Verastem Inc (NASDAQ:VSTM) – Equities research analysts at Cantor Fitzgerald lowered their FY2018 EPS estimates for shares of Verastem in a report issued on Tuesday, May 22nd. Cantor Fitzgerald analyst M. Goldstein now expects that the biopharmaceutical company will post earnings per share of ($1.34) for the year, down from their prior forecast of ($1.22). Cantor Fitzgerald currently has a “Buy” rating and a $17.00 target price on the stock.
Verastem (NASDAQ:VSTM) last released its quarterly earnings data on Tuesday, May 8th. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.02).
VSTM has been the topic of several other research reports. BidaskClub upgraded shares of Verastem from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Zacks Investment Research raised shares of Verastem from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a report on Saturday, March 17th. Cann reaffirmed a “buy” rating and set a $13.00 price objective on shares of Verastem in a report on Friday, January 26th. HC Wainwright set a $10.00 price target on shares of Verastem and gave the company a “buy” rating in a report on Thursday, March 15th. Finally, B. Riley set a $15.00 price target on shares of Verastem and gave the company a “buy” rating in a report on Friday, March 23rd. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $11.25.
Shares of Verastem opened at $5.38 on Thursday, according to MarketBeat.com. Verastem has a 12 month low of $1.92 and a 12 month high of $5.90. The firm has a market cap of $305.45 million, a PE ratio of -3.06 and a beta of 2.18. The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.39.
A number of institutional investors have recently modified their holdings of VSTM. Dimensional Fund Advisors LP boosted its holdings in Verastem by 93.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 561,969 shares of the biopharmaceutical company’s stock valued at $2,641,000 after purchasing an additional 272,141 shares during the period. Alambic Investment Management L.P. bought a new position in shares of Verastem during the 4th quarter worth about $534,000. SeaCrest Wealth Management LLC bought a new position in shares of Verastem during the 4th quarter worth about $108,000. Wells Fargo & Company MN lifted its holdings in shares of Verastem by 130.5% during the 4th quarter. Wells Fargo & Company MN now owns 45,987 shares of the biopharmaceutical company’s stock worth $141,000 after acquiring an additional 26,036 shares during the period. Finally, Artal Group S.A. lifted its holdings in shares of Verastem by 33.3% during the 4th quarter. Artal Group S.A. now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $3,070,000 after acquiring an additional 250,000 shares during the period. 25.96% of the stock is owned by hedge funds and other institutional investors.
Verastem, Inc, a biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer. Its programs target the focal adhesion kinase (FAK) and the phosphoinositide 3-kinase (PI3K) signaling pathways. The company's lead FAK inhibitor is defactinib, an orally available candidate for combination therapy with immuno-oncology agents and other anti-cancer compounds.
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