Today, a Director at Verastem (NASDAQ: VSTM), Michael Kauffman, bought shares of VSTM for $29.96K.
Following this transaction Michael Kauffman’s holding in the company was increased by 100% to a total of $53.36K. Following Michael Kauffman’s last VSTM Buy transaction on February 17, 2016, the stock climbed by 5.5%.
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Based on Verastem’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $10 million and GAAP net loss of $18.37 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $23.13 million. Currently, Verastem has an average volume of 3.15M.
Starting in October 2017, VSTM received 56 Buy ratings in a row. Based on 6 analyst ratings, the analyst consensus is Strong Buy with an average price target of $15.00, reflecting a 124.9% upside. Six different firms, including BTIG and Raymond James, currently also have a Buy rating on the stock.
Michael Kauffman’s trades have generated a 21.1% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.
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Verastem, Inc. is a biopharmaceutical company, which engages in the development and commercialization of drugs to treat cancer by the targeted killing of cancer stem cells. Its product candidates include duvelisib, which targets the Phosphoinositide 3-kinase signaling pathway; and defactinib, a targeted inhibitor of the Focal Adhesion Kinase signaling pathway. It evaluates these compounds in both preclinical and clinical studies as potential therapies for certain cancers, including leukemia, lymphoma, lung cancer, ovarian cancer, mesothelioma, and pancreatic cancer. The company was founded by Richard H. Aldrich, Michelle Dipp, Piyush Gupta, Satish Jindal, Eric S. Lander, Robert F. Weinberg and Christoph H. Westphal on August 4, 2010 and is headquartered in Cambridge, MA.
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