-$0.46 EPS Expected for Verastem Inc (VSTM) This Quarter

Brokerages expect Verastem Inc (NASDAQ:VSTM) to report ($0.46) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Verastem’s earnings, with estimates ranging from ($0.50) to ($0.42). Verastem reported earnings per share of ($0.41) during the same quarter last year, which would suggest a negative year over year growth rate of 12.2%. The firm is scheduled to announce its next earnings report on Thursday, May 2nd.

According to Zacks, analysts expect that Verastem will report full year earnings of ($1.75) per share for the current year, with EPS estimates ranging from ($1.88) to ($1.58). For the next year, analysts expect that the firm will post earnings of ($1.35) per share, with EPS estimates ranging from ($1.49) to ($1.20). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Verastem.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings data on Tuesday, March 12th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.23. The firm had revenue of $1.21 million for the quarter, compared to the consensus estimate of $5.56 million.

VSTM has been the subject of several research reports. Zacks Investment Research raised Verastem from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a report on Saturday, February 9th. HC Wainwright reduced their price objective on Verastem from $13.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, March 14th. Raymond James cut their price target on Verastem from $12.00 to $6.00 and set an “outperform” rating for the company in a report on Thursday, March 14th. Finally, Cantor Fitzgerald assumed coverage on Verastem in a report on Wednesday, April 3rd. They issued an “overweight” rating and a $5.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $11.64.

NASDAQ VSTM traded down $0.06 on Friday, hitting $2.17. 1,990,623 shares of the stock traded hands, compared to its average volume of 2,697,392. Verastem has a 12 month low of $2.13 and a 12 month high of $10.35. The firm has a market cap of $160.31 million, a price-to-earnings ratio of -1.58 and a beta of 3.03. The company has a current ratio of 6.83, a quick ratio of 6.82 and a debt-to-equity ratio of 0.92.

In related news, Director Timothy J. Barberich purchased 33,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was purchased at an average cost of $3.21 per share, with a total value of $105,930.00. Following the completion of the acquisition, the director now directly owns 168,000 shares of the company’s stock, valued at $539,280. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.50% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of VSTM. Principal Financial Group Inc. bought a new position in shares of Verastem in the fourth quarter worth $35,000. Amalgamated Bank bought a new stake in Verastem during the fourth quarter valued at $35,000. MML Investors Services LLC boosted its stake in Verastem by 70.0% during the fourth quarter. MML Investors Services LLC now owns 17,000 shares of the biopharmaceutical company’s stock valued at $57,000 after buying an additional 7,000 shares during the period. GSA Capital Partners LLP bought a new stake in Verastem during the fourth quarter valued at $62,000. Finally, Blueshift Asset Management LLC bought a new stake in Verastem during the fourth quarter valued at $62,000. 59.15% of the stock is owned by hedge funds and other institutional investors.

About Verastem

Verastem, Inc, a biopharmaceutical company, focusing on developing and commercializing medicines to improve the survival and quality of life of cancer patients. It markets COPIKTRA (duvelisib), an oral inhibitor of phosphoinositide 3-kinase (PI3K) and 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 after at least two prior therapies and relapsed or refractory follicular lymphoma (FL) after at least two prior systemic therapies.

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Earnings History and Estimates for Verastem (NASDAQ:VSTM)

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