The Verastem Inc (VSTM) Given Hold Rating at Cantor Fitzgerald

The Verastem Inc (VSTM) Given Hold Rating at Cantor Fitzgerald

“DYNAMO Follow-Up Data Coming Soon. VSTM will present follow-up data with duvelisib in double-refractory indolent non-Hodgkin lymphoma (iNHL) at the International Conference on Malignant Melanoma (ICML), commonly referred to as the Lugano Meeting” on June 15th. We think these data could provide support for duvelisib, should the long-term data prove to be durable. Rethinking Duvelisib. Duvelisib’s past history as a development candidate is potentially masking its true market opportunity, as the drug could be used in Imbruvica failures. We don’t view the outcome of the DUO trial as slam dunk”, but we do think that the drug’s potential has been overshadowed by its previous history. The drug is being compared to Novartis’ (Not Covered) Arzerra (ofatumumab), and tested in a setting of relapsed/refractory CLL. Optionality with Defactinib. While duvelisib will be the key driver for the value expansion near term, in our view, VSTM is also continuing development of defactinib. Given the prior history of defactinib (COMMAND) it also appears to us that the clinical profile may not be recognized until additional data are in hand, particularly as some of the work is being conducted via investigator- sponsored trials (ISTs).”,” the firm’s analyst wrote.

Cantor Fitzgerald reissued their hold rating on shares of Verastem Inc (NASDAQ:VSTM) in a research report released on Thursday, May 11th. Cantor Fitzgerald currently has a $2.00 price objective on the biopharmaceutical company’s stock.

A number of other research analysts have also issued reports on VSTM. HC Wainwright lifted their target price on Verastem from $5.00 to $6.50 and gave the stock a buy rating in a report on Friday, March 24th. Oppenheimer Holdings Inc. began coverage on Verastem in a report on Thursday, April 13th. They set an outperform rating and a $6.00 target price on the stock. Cann reaffirmed an outperform rating and set a $6.00 target price on shares of Verastem in a report on Wednesday, April 12th. Finally, CIBC reissued an outperform rating and issued a $6.00 price target on shares of Verastem in a research note on Thursday, April 13th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $3.64. Verastem (VSTM) opened at 2.19 on Thursday. Verastem has a 12-month low of $1.05 and a 12-month high of $2.54. The firm’s 50-day moving average is $2.16 and its 200 day moving average is $1.53. The stock’s market capitalization is $81.01 million.

In other Verastem news, Director Timothy J. Barberich acquired 30,000 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was purchased at an average cost of $2.45 per share, for a total transaction of $73,500.00. Following the transaction, the director now owns 69,462 shares of the company’s stock, valued at approximately $170,181.90. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Several large investors have recently made changes to their positions in the stock. FMR LLC raised its stake in shares of Verastem by 32.2% in the fourth quarter. 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 in the last quarter. Renaissance Technologies LLC raised its stake in shares of Verastem by 20.0% in the first 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 in the last quarter. TFS Capital LLC purchased a new stake in shares of Verastem during the first quarter valued at about $113,000. Vanguard Group Inc. raised its stake in shares of Verastem by 5.2% in the first quarter. Vanguard Group Inc. now owns 1,036,613 shares of the biopharmaceutical company’s stock valued at $2,145,000 after buying an additional 51,306 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Verastem by 0.4% in the first quarter. Geode Capital Management LLC now owns 188,743 shares of the biopharmaceutical company’s stock valued at $390,000 after buying an additional 750 shares in the last quarter.

About Verastem 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:VSTM”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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