Verastem, Inc. (NASDAQ:VSTM – Get Free Report) has been assigned an average rating of “Buy” from the five ratings firms that are presently covering the company, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have issued a report on the stock in the last year is $31.00.
A number of brokerages have recently weighed in on VSTM. Mizuho reaffirmed a “buy” rating and issued a $36.00 price target on shares of Verastem in a research note on Tuesday, August 29th. Royal Bank of Canada dropped their target price on shares of Verastem from $34.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, August 9th. B. Riley assumed coverage on shares of Verastem in a report on Wednesday, September 27th. They issued a “buy” rating and a $21.00 target price on the stock. Finally, StockNews.com upgraded shares of Verastem from a “sell” rating to a “hold” rating in a report on Monday, October 23rd.
Verastem Trading Down 4.3 %
Institutional Investors Weigh In On Verastem
Hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC purchased a new stake in shares of Verastem in the 2nd quarter valued at approximately $74,000. Eaton Vance Management purchased a new stake in shares of Verastem in the 1st quarter valued at approximately $28,000. Bank of New York Mellon Corp lifted its position in shares of Verastem by 27.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 22,758 shares of the biopharmaceutical company’s stock valued at $185,000 after acquiring an additional 4,939 shares in the last quarter. Arete Wealth Advisors LLC purchased a new stake in shares of Verastem in the 1st quarter valued at approximately $9,487,000,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Verastem by 19.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 24,432 shares of the biopharmaceutical company’s stock valued at $182,000 after acquiring an additional 3,973 shares in the last quarter. Hedge funds and other institutional investors own 75.25% of the company’s stock.
Verastem, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer. Its product in development includes VS-6766, a rapidly accelerated fibrosarcoma (RAF)/mitogen-activated protein kinase (MEK) clamp that blocks MEK kinase activity and the ability of RAF to phosphorylate MEK.
- Five stocks we like better than Verastem
- 3 Grocery Stocks That Can Help Take a Bite Out of Inflation
- MarketBeat Week in Review – 11/6 – 11/10
- Biggest Stock Losers – Today’s Biggest Percentage Decliners
- Data giants MongoDB and Snowflake just got upgraded
- Insider Buying Explained: What Investors Need to Know
- Plug Power at tipping point; it’s make or break time for hydrogen
Receive News & Ratings for Verastem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verastem and related companies with MarketBeat.com's FREE daily email newsletter.