Brokerages forecast that Verastem Inc (NASDAQ:VSTM) will report earnings of ($0.42) per share for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Verastem’s earnings, with estimates ranging from ($0.51) to ($0.34). Verastem reported earnings of ($0.43) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.3%. The company is expected to report its next earnings results on Tuesday, March 12th.
On average, analysts expect that Verastem will report full year earnings of ($1.42) per share for the current year, with EPS estimates ranging from ($1.52) to ($1.34). For the next year, analysts expect that the firm will report earnings of ($1.47) per share, with EPS estimates ranging from ($2.26) to ($0.85). Zacks’ EPS calculations are an average based on a survey of analysts that cover Verastem.
Verastem (NASDAQ:VSTM) last issued its quarterly earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.14. The business had revenue of $15.51 million for the quarter.
A number of brokerages recently issued reports on VSTM. HC Wainwright set a $15.00 price target on shares of Verastem and gave the company a “buy” rating in a research report on Thursday, November 8th. ValuEngine lowered shares of Verastem from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 29th. Raymond James raised their price objective on shares of Verastem from $7.00 to $12.00 in a research note on Friday, August 10th. BidaskClub lowered shares of Verastem from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. Finally, BTIG Research set a $17.00 price objective on shares of Verastem and gave the company a “buy” rating in a research note on Tuesday, September 25th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $14.60.
In related news, Director Michael Kauffman purchased 4,000 shares of Verastem stock in a transaction dated Friday, September 28th. The stock was purchased at an average cost of $7.49 per share, for a total transaction of $29,960.00. Following the completion of the purchase, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $29,960. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert Forrester purchased 10,500 shares of Verastem stock in a transaction dated Thursday, September 27th. The stock was bought at an average price of $7.00 per share, with a total value of $73,500.00. Following the completion of the purchase, the chief executive officer now directly owns 209,234 shares of the company’s stock, valued at $1,464,638. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 19,500 shares of company stock valued at $139,420. 5.50% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in VSTM. State Board of Administration of Florida Retirement System bought a new stake in shares of Verastem in the second quarter worth approximately $100,000. HRT Financial LLC bought a new stake in shares of Verastem in the third quarter worth approximately $109,000. Pacer Advisors Inc. bought a new stake in shares of Verastem in the third quarter worth approximately $123,000. B. Riley Wealth Management Inc. bought a new stake in shares of Verastem in the third quarter worth approximately $127,000. Finally, Metropolitan Life Insurance Co. NY bought a new stake in shares of Verastem in the second quarter worth approximately $130,000. Hedge funds and other institutional investors own 48.02% of the company’s stock.
NASDAQ VSTM traded down $0.13 during trading hours on Monday, reaching $5.04. 1,998,046 shares of the company’s stock traded hands, compared to its average volume of 2,068,997. Verastem has a 52-week low of $2.77 and a 52-week high of $10.35. The stock has a market cap of $381.50 million, a P/E ratio of -2.86 and a beta of 3.14. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.97 and a quick ratio of 2.97.
Verastem Company Profile
Verastem, Inc, operating as a Verastem Oncology, is a biopharmaceutical company focuses on developing and commercializing medicines to improve the survival of life of cancer patients. It markets COPIKTRA (duvelisib), an oral inhibitor of phosphoinositide 3-kinase (PI3K) and is approved dual inhibitor of PI3K-delta and PI3K-gamma, which is indicated for the treatment of adult patients with relapsed or refractory chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL) after at least two prior therapies and relapsed or refractory follicular lymphoma (FL) after at least two prior systemic therapies.
Featured Article: The Discount Rate – What You Need to Know
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Verastem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verastem and related companies with MarketBeat.com's FREE daily email newsletter.