Verastem, Inc. (VSTM)’s Stock Is Buy After Forming Double Top

July 27, 2018 - By Mary Kidd

Investors sentiment decreased to 1.16 in Q1 2018. Its down 0.37, from 1.53 in 2017Q4. It worsened, as 14 investors sold Verastem, Inc. shares while 17 reduced holdings. 10 funds opened positions while 26 raised stakes. 13.46 million shares or 10.46% less from 15.03 million shares in 2017Q4 were reported.
Laurion Mngmt Limited Partnership holds 0% of its portfolio in Verastem, Inc. (NASDAQ:VSTM) for 66,217 shares. Guggenheim Limited Co has invested 0% in Verastem, Inc. (NASDAQ:VSTM). Granahan Investment Mgmt Ma has invested 0.02% in Verastem, Inc. (NASDAQ:VSTM). Axa accumulated 78,425 shares. Deer Vii & Limited stated it has 13.24% of its portfolio in Verastem, Inc. (NASDAQ:VSTM). Tower Rech Cap (Trc) accumulated 630 shares. Savings Bank Of America De, a North Carolina-based fund reported 11,940 shares. Royal Savings Bank Of Canada reported 35,900 shares or 0% of all its holdings. Panagora Asset, Massachusetts-based fund reported 22,152 shares. Gradient Investments Lc owns 1,000 shares. Highbridge Management Ltd Liability Corp holds 0.01% of its portfolio in Verastem, Inc. (NASDAQ:VSTM) for 192,500 shares. Advisory Net Limited Liability has 0% invested in Verastem, Inc. (NASDAQ:VSTM) for 18,825 shares. Pennsylvania-based Vanguard Gru has invested 0% in Verastem, Inc. (NASDAQ:VSTM). Susquehanna Group Inc Llp, Pennsylvania-based fund reported 163,762 shares. Wells Fargo And Mn holds 0% in Verastem, Inc. (NASDAQ:VSTM) or 52,889 shares.

The chart of Verastem, Inc. (VSTM) shows a double top with $8.38 target or 5.00 % above today’s $7.98 share price. The 9 months chart pattern indicates low risk for the $587.17M company. It was reported on Jul, 27 by Finviz.com. If the $8.38 price target is reached, the company will be worth $29.36M more. Double tops are rare but powerful chart patterns.

The stock increased 2.18% or $0.17 during the last trading session, reaching $7.98. About 981,302 shares traded. Verastem, Inc. (NASDAQ:VSTM) has risen 127.00% since July 27, 2017 and is uptrending. It has outperformed by 114.43% the S&P500.

Analysts await Verastem, Inc. (NASDAQ:VSTM) to report earnings on August, 14. They expect $-0.35 earnings per share, up 2.78 % or $0.01 from last year’s $-0.36 per share. After $-0.41 actual earnings per share reported by Verastem, Inc. for the previous quarter, Wall Street now forecasts -14.63 % EPS growth.

Verastem, Inc. (NASDAQ:VSTM) Ratings Coverage

Among 4 analysts covering Verastem (NASDAQ:VSTM), 4 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Verastem had 6 analyst reports since March 8, 2018 according to SRatingsIntel. The rating was maintained by FBR Capital with “Buy” on Friday, June 8. On Thursday, May 10 the stock rating was maintained by FBR Capital with “Buy”. The firm has “Buy” rating given on Thursday, March 8 by FBR Capital. H.C. Wainwright maintained the stock with “Buy” rating in Thursday, March 15 report.

Verastem, Inc., a biopharmaceutical company, focuses on discovering and developing drugs for the treatment of cancer. The company has market cap of $587.17 million. The Company’s programs target the focal adhesion kinase and the phosphoinositide 3-kinase (PI3K)/mTOR signaling pathways. It currently has negative earnings. The Company’s lead FAK inhibitor is defactinib (VS-6063), an orally available candidate for combination therapy with immuno-oncology agents and other anti-cancer compounds.

Verastem, Inc. (NASDAQ:VSTM) Institutional Positions Chart

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