Time to Buy Verastem, Inc. (VSTM) After The Completion of This Bullish Multiple Top?

August 14, 2018 - By Hannah Black

Investors sentiment decreased to 1.16 in 2018 Q1. Its down 0.37, from 1.53 in 2017Q4. It dropped, 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.
First Republic Mgmt holds 0% or 18,500 shares in its portfolio. Panagora Asset Management has 22,152 shares for 0% of their portfolio. Raymond James Financial Advisors holds 18,709 shares or 0% of its portfolio. Stifel Financial Corp reported 354,130 shares stake. Sei has invested 0% in Verastem, Inc. (NASDAQ:VSTM). Howland Capital Mgmt Ltd Co accumulated 267,903 shares. Axa owns 78,425 shares. California Public Employees Retirement holds 91,300 shares. Gsa Cap Partners Llp invested in 0.04% or 279,154 shares. Private Cap holds 0.19% or 188,447 shares. Rbf Cap Limited Liability Company has invested 0% in Verastem, Inc. (NASDAQ:VSTM). Pnc Ser Inc has invested 0% in Verastem, Inc. (NASDAQ:VSTM). Royal Bancorp Of Canada owns 35,900 shares. Tower Rech Cap Ltd (Trc) holds 630 shares or 0% of its portfolio. Verition Fund Mngmt Ltd Com holds 0% or 11,857 shares.

The stock of Verastem, Inc. (VSTM) shows a multiple tops pattern with $8.62 target or 7.00 % above today’s $8.06 share price. The 8 months chart pattern indicates low risk for the $593.15M company. It was reported on Aug, 14 by Finviz.com. If the $8.62 price target is reached, the company will be worth $41.52 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 0.98% or $0.08 during the last trading session, reaching $8.06. About 2.11M shares traded. Verastem, Inc. (NASDAQ:VSTM) has risen 127.00% since August 14, 2017 and is uptrending. It has outperformed by 114.43% the S&P500.

Analysts await Verastem, Inc. (NASDAQ:VSTM) to report earnings on November, 6. They expect $-0.38 earnings per share, up 37.70 % or $0.23 from last year’s $-0.61 per share. After $-0.30 actual earnings per share reported by Verastem, Inc. for the previous quarter, Wall Street now forecasts 26.67 % negative 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 has $1700 highest and $10.0 lowest target. $14.50’s average target is 79.90% above currents $8.06 stock price. Verastem had 6 analyst reports since March 8, 2018 according to SRatingsIntel. The stock of Verastem, Inc. (NASDAQ:VSTM) earned “Buy” rating by FBR Capital on Friday, June 8. The stock has “Buy” rating by H.C. Wainwright on Thursday, March 15. The firm has “Buy” rating by FBR Capital given on Thursday, March 8. The firm has “Buy” rating by FBR Capital given on Thursday, May 10.

More news for Verastem, Inc. (NASDAQ:VSTM) were recently published by: Businesswire.com, which released: “Verastem Oncology Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)” on August 08, 2018. Nasdaq.com‘s article titled: “Here’s Why Verastem Jumped Higher Today” and published on August 09, 2018 is yet another important article.

Verastem, Inc., a biopharmaceutical company, focuses on discovering and developing drugs for the treatment of cancer. The company has market cap of $593.15 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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