Verastem Inc (VSTM) Expected to Announce Earnings of -$0.46 Per Share

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Wall Street brokerages forecast that Verastem Inc (NASDAQ:VSTM) will announce ($0.46) earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Verastem’s earnings. The highest EPS estimate is ($0.34) and the lowest is ($0.68). Verastem posted earnings per share of ($0.43) during the same quarter last year, which suggests a negative year over year growth rate of 7%. The company is expected to issue its next quarterly earnings report on Tuesday, March 12th.

According to Zacks, analysts expect that Verastem will report full-year earnings of ($1.57) per share for the current financial year, with EPS estimates ranging from ($1.84) to ($1.44). For the next year, analysts anticipate that the business will post earnings of ($1.31) per share, with EPS estimates ranging from ($1.65) to ($0.85). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Verastem.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings data on Thursday, November 8th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.43) by $0.14. The business had revenue of $15.51 million for the quarter.

Several brokerages have issued reports on VSTM. ValuEngine raised shares of Verastem from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. HC Wainwright set a $15.00 price objective on shares of Verastem and gave the stock a “buy” rating in a research report on Thursday. BidaskClub cut shares of Verastem from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. Zacks Investment Research upgraded shares of Verastem from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Friday, July 20th. Finally, Raymond James raised their target price on shares of Verastem from $7.00 to $12.00 in a research note on Friday, August 10th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $14.60.

In other news, CEO Robert Forrester bought 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, for a total transaction of $73,500.00. Following the purchase, the chief executive officer now owns 209,234 shares of the company’s stock, valued at $1,464,638. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael Kauffman bought 4,000 shares of Verastem stock in a transaction dated Friday, September 28th. The stock was purchased at an average price of $7.49 per share, with a total value of $29,960.00. Following the purchase, the director now directly owns 4,000 shares in the company, valued at approximately $29,960. The disclosure for this purchase can be found here. Insiders bought a total of 19,500 shares of company stock valued at $139,420 in the last 90 days. Company insiders own 6.51% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in VSTM. Northern Trust Corp lifted its stake in shares of Verastem by 42.8% in the first quarter. Northern Trust Corp now owns 94,992 shares of the biopharmaceutical company’s stock valued at $284,000 after purchasing an additional 28,473 shares during the period. BlackRock Inc. lifted its stake in shares of Verastem by 7.2% in the first quarter. BlackRock Inc. now owns 1,040,059 shares of the biopharmaceutical company’s stock valued at $3,100,000 after purchasing an additional 70,138 shares during the period. Creative Planning lifted its stake in shares of Verastem by 30.1% in the second quarter. Creative Planning now owns 58,550 shares of the biopharmaceutical company’s stock valued at $403,000 after purchasing an additional 13,550 shares during the period. Barrett Asset Management LLC acquired a new stake in shares of Verastem in the second quarter valued at about $344,000. Finally, SeaCrest Wealth Management LLC lifted its stake in shares of Verastem by 112.6% in the second quarter. SeaCrest Wealth Management LLC now owns 37,104 shares of the biopharmaceutical company’s stock valued at $255,000 after purchasing an additional 19,651 shares during the period. Hedge funds and other institutional investors own 43.40% of the company’s stock.

Verastem stock traded down $0.21 during midday trading on Friday, hitting $5.51. 2,261,783 shares of the company’s stock were exchanged, compared to its average volume of 2,750,680. Verastem has a 12-month low of $2.77 and a 12-month high of $10.35. The company has a debt-to-equity ratio of 0.19, a current ratio of 7.70 and a quick ratio of 7.70.

About Verastem

Verastem, Inc, a biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer. Its programs target the focal adhesion kinase (FAK) and the phosphoinositide 3-kinase (PI3K) signaling pathways. The company's lead FAK inhibitor is defactinib, an orally available candidate for combination therapy with immuno-oncology agents and other anti-cancer compounds.

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