Cann Reiterates “Outperform” Rating for Verastem Inc (VSTM)

Verastem Inc (NASDAQ:VSTM)‘s stock had its “outperform” rating reiterated by stock analysts at Cann in a report released on Wednesday. They currently have a $6.00 price target on the biopharmaceutical company’s stock. Cann’s target price would indicate a potential upside of 270.37% from the company’s previous close.

A number of other analysts also recently issued reports on the company. HC Wainwright raised their target price on Verastem from $5.00 to $6.50 and gave the stock a “buy” rating in a research note on Friday, March 24th. Cantor Fitzgerald downgraded Verastem from a “buy” rating to a “hold” rating in a research note on Tuesday, January 10th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Verastem currently has a consensus rating of “Buy” and an average target price of $4.08.

Analyst Recommendations for Verastem (NASDAQ:VSTM)

Verastem (NASDAQ:VSTM) traded up 19.75% during mid-day trading on Wednesday, hitting $1.94. The company had a trading volume of 894,988 shares. The company’s market capitalization is $71.76 million. Verastem has a 52-week low of $1.05 and a 52-week high of $2.25. The company has a 50-day moving average price of $1.54 and a 200 day moving average price of $1.32.

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A hedge fund recently raised its stake in Verastem stock. FMR LLC increased its position in Verastem Inc (NASDAQ:VSTM) by 32.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 901,200 shares of the biopharmaceutical company’s stock after buying an additional 219,445 shares during the period. FMR LLC owned 2.44% of Verastem worth $1,009,000 as of its most recent filing with the SEC.

Verastem Company Profile

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.

5 Day Chart for NASDAQ:VSTM

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