HC Wainwright Reiterates "Buy" Rating for Verastem, Inc. (VSTM)

Verastem

The company last reported its quarterly results on Aug 14 AMC.

When it comes to the Analysis of a Stock, Price Target plays a vital role. The Stock now has a Weekly Volatility of 11.28% and Monthly Volatility of 8.69%.

VSTM has been the subject of a number of other reports. HC Wainwright set a $7.00 price objective on Verastem and gave the company a "buy" rating in a research note on Thursday, August 10th. Verastem has $6.50 highest and $6 lowest target. Jefferies Group LLC reaffirmed a "hold" rating and issued a $1.50 price target on shares of Verastem in a report on Wednesday, June 28th. They now have a Dollars 6 price target on the stock. Duvelisib, Verastem's lead drug candidate, is an oral inhibitor of phosphoinositide-3-kinase (PI3K)-delta and PI3K-gamma being investigated for the treatment of hematologic cancers, including chronic lymphocytic leukemia (CLL)/small lymphocytic lymphoma (SLL), indolent non-Hodgkin lymphoma (iNHL) and other T cell lymphomas. This company shares are -5.89% up from its target price of $4.63 and the current market capitalization stands at $179.63M. Verastem's 50-day average is $3.54 and its two hundred day average is $2.45.

(VSTM) escalated 0.41% and closed its last trading session at $4.94. The biopharmaceutical business posted ($0.36) EPS for the period, falling below Zacks' average forecast of ($0.34) by $0.02. on consensus, experts expect that Verastem to post ($1.38) EPS for the present financial year. For the current quarter Verastem Inc (NASDAQ:VSTM) has high EPS estimates of $-0.28 in contradiction of low EPS estimates of $-0.35.

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Quite a few hedge fund investors and institutional investors have modified to their stake in the share. Northern Trust Corp now owns 73,750 shares of the biopharmaceutical company's stock valued at $160,000 after buying an additional 21,178 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Verastem by 20.0% in the first quarter. Its book value per share for the most recent quarter is $1.3 while its price to book ratio for the same period is 3.8, as for as the company's cash per share for the most recent quarter is $1.59, however its price to cash per share ratio for the same period is 3.12. Howland Capital Management LLC increased its position in Verastem by 16.5% during the 2nd quarter. Howland Capital Management LLC now owns 294,007 shares of the biopharmaceutical company's stock worth $641,000 after purchasing an additional 41,616 shares during the last quarter. Alpine Woods Capital Investors LLC acquired a new stake in shares of Verastem in the second quarter worth $109,000. Northern Trust Corp grew its position in shares of Verastem by 40.3% in the 2nd quarter. However, the institutional investors are observed to own 91.70% of the total shares.

Verastem said its successful trial triggers a $6 million payment to Infinity Pharmaceuticals Inc from which it licensed duvelisib past year. The Firm is focused on discovering and developing drugs to improve outcomes for patients with cancer.

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