Cantor Fitzgerald restated their buy rating on shares of Verastem (NASDAQ:VSTM) in a research report sent to investors on Wednesday, February 7th. Cantor Fitzgerald currently has a $17.00 target price on the biopharmaceutical company’s stock.
“VSTM shares are up premarket on the news that the company submitted an NDA for approval of duvelisib for the treatment of chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL), as well as for accelerated approval in relapsed or refractory follicular lymphoma (FL).”,” Cantor Fitzgerald’s analyst commented.
A number of other equities analysts have also commented on the stock. Cann reaffirmed a buy rating and issued a $13.00 price objective on shares of Verastem in a research note on Friday, January 26th. Oppenheimer set a $13.00 target price on shares of Verastem and gave the stock a buy rating in a research report on Thursday, December 21st. HC Wainwright set a $10.00 target price on shares of Verastem and gave the stock a buy rating in a research report on Wednesday, December 13th. Raymond James Financial reiterated a buy rating on shares of Verastem in a research report on Monday, December 11th. Finally, ValuEngine downgraded shares of Verastem from a sell rating to a strong sell rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $9.53.
Verastem (NASDAQ:VSTM) traded up $0.05 during trading on Wednesday, reaching $3.24. 411,600 shares of the company were exchanged, compared to its average volume of 765,716. Verastem has a 1 year low of $1.11 and a 1 year high of $5.71. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.06. The firm has a market cap of $154.29, a price-to-earnings ratio of -1.98 and a beta of 2.20.
In other news, Director Timothy J. Barberich bought 60,538 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The shares were purchased at an average price of $3.95 per share, for a total transaction of $239,125.10. Following the acquisition, the director now directly owns 130,000 shares of the company’s stock, valued at approximately $513,500. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 6.51% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AXA grew its position in Verastem by 32.2% in the 4th quarter. AXA now owns 78,425 shares of the biopharmaceutical company’s stock worth $241,000 after purchasing an additional 19,118 shares during the last quarter. Northern Trust Corp grew its position in Verastem by 40.3% in the 2nd quarter. Northern Trust Corp now owns 73,750 shares of the biopharmaceutical company’s stock worth $160,000 after purchasing an additional 21,178 shares during the last quarter. Wells Fargo & Company MN grew its position in Verastem by 130.5% in the 4th quarter. Wells Fargo & Company MN now owns 45,987 shares of the biopharmaceutical company’s stock worth $141,000 after purchasing an additional 26,036 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Verastem in the 3rd quarter worth $136,000. Finally, SeaCrest Wealth Management LLC acquired a new stake in Verastem in the 4th quarter worth $108,000. Institutional investors own 29.10% of the company’s stock.
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Verastem, Inc is a biopharmaceutical company. The Company is focused on discovering and developing drugs to improve outcomes for patients with cancer. The Company operates in the segment of developing drugs for the treatment of cancer. The Company’s advanced product candidates are VS 6063, VS 4718 and VS 5584.
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