Verastem, Inc. (VSTM) Stock Price Down 9% Following Weak Earnings

Paterniano Del Favero
Agosto 12, 2017

VSTM has been the subject of a number of recent analyst reports. FMR LLC now owns 901,200 shares of the biopharmaceutical company's stock valued at $1,009,000 after buying an additional 219,445 shares during the period.

Price targets show what analysts believes a stock will be worth at the end of a certain time period.

Equities analysts predict that Verastem, Inc. Verastem Inc (NASDAQ:VSTM) has risen 71.53% since August 11, 2016 and is uptrending. The stock is noticeable among investors as VSTM reported favorable performance of 217.86%.

Oppenheimer began new coverage on Verastem, Inc. giving the company a "outperform" rating. They issued an "outperform" rating and a $6.00 price objective for the company. Cantor Fitzgerald reaffirmed a "hold" rating and set a $2.00 price target on shares of Verastem in a research report on Thursday, May 11th. Finally, Zacks Investment Research downgraded Verastem from a "hold" rating to a "sell" rating in a research report on Tuesday, May 16th. They set an "outperform" rating and a $6.00 price target on the stock. "Ultimately, through all this investigation into the company's performance the analyst decides if their stock is a "buy", sell" or hold".

Shares of Verastem (VSTM) traded down 8.95% during midday trading on Tuesday, reaching $3.56. The lowest target is $1.5000 while the high is $17.

Verastem, Inc. (VSTM) closed 94.26% above its 200-day moving average and is 22.82% above another chart threshold, its 50-day moving average. The company has market cap of $131.34 million.

Verastem (NASDAQ:VSTM) last released its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.35) EPS for the quarter, hitting the Thomson Reuters' consensus estimate of ($0.35).

Analysts await Verastem Inc (NASDAQ:VSTM) to report earnings on August, 14.

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In related news, Director Timothy J. Barberich purchased 30,000 shares of the business's stock in a transaction on Monday, May 15th. The stock was purchased at an average cost of $2.45 per share, with a total value of $73,500.00. Similarly, the company's Director Kauffman Michael on 2015-08-24 Sell 3000 shares of the company at a price of $7.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The stock of Verastem Inc (NASDAQ:VSTM) earned "Neutral" rating by TH Capital on Monday, September 28. Finally, FMR LLC raised its stake in Verastem by 32.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,226,600 shares of the biopharmaceutical company's stock valued at $2,539,000 after buying an additional 204,400 shares during the period. Renaissance Technologies Ltd Liability Corp has 0% invested in Verastem Inc (NASDAQ:VSTM) for 1.02M shares. The Q3 2017 consensus earnings estimates for the company have stabilized at US$-0.29 per share. TFS Capital LLC bought a new position in shares of Verastem during the first quarter valued at $113,000. Howland Capital Management LLC increased its position in shares of Verastem by 16.5% in the second quarter. Alpine Woods Capital Investors LLC purchased a new stake in Verastem during the second quarter valued at about $109,000.

A number of hedge funds and other institutional investors have recently modified their holdings of VSTM. The Firm 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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