Analysts expect Verastem Inc (NASDAQ:VSTM) to announce earnings of ($0.54) per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Verastem’s earnings. The lowest EPS estimate is ($0.79) and the highest is ($0.34). Verastem reported earnings per share of ($0.43) during the same quarter last year, which would suggest a negative year over year growth rate of 25.6%. The business is scheduled to issue its next earnings results on Tuesday, March 12th.
On average, analysts expect that Verastem will report full-year earnings of ($1.55) per share for the current fiscal year, with EPS estimates ranging from ($1.84) to ($1.34). For the next financial year, analysts anticipate that the company will report earnings of ($1.67) per share, with EPS estimates ranging from ($2.26) to ($0.85). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Verastem.
VSTM has been the subject of a number of recent analyst reports. BidaskClub cut Verastem from a “buy” rating to a “hold” rating in a report on Friday, October 26th. ValuEngine cut Verastem from a “strong-buy” rating to a “buy” rating in a report on Monday, October 29th. HC Wainwright set a $15.00 price target on Verastem and gave the company a “buy” rating in a report on Thursday, November 8th. Roth Capital set a $14.00 price target on Verastem and gave the company a “buy” rating in a report on Friday, November 9th. Finally, Zacks Investment Research cut Verastem from a “buy” rating to a “hold” rating in a report on Saturday, January 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. Verastem has a consensus rating of “Buy” and a consensus target price of $14.19.
A number of institutional investors and hedge funds have recently made changes to their positions in VSTM. Bank of Montreal Can boosted its position in Verastem by 99.8% in the 4th quarter. Bank of Montreal Can now owns 20,290 shares of the biopharmaceutical company’s stock valued at $69,000 after buying an additional 10,133 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Verastem by 84.6% in the 4th quarter. Parallel Advisors LLC now owns 24,000 shares of the biopharmaceutical company’s stock worth $80,000 after purchasing an additional 11,000 shares during the last quarter. HRT Financial LLC bought a new position in shares of Verastem in the 3rd quarter worth $109,000. Pacer Advisors Inc. bought a new position in shares of Verastem in the 3rd quarter worth $123,000. Finally, B. Riley Wealth Management Inc. bought a new position in shares of Verastem in the 3rd quarter worth $127,000. Hedge funds and other institutional investors own 48.49% of the company’s stock.
VSTM stock traded down $0.11 during midday trading on Monday, reaching $3.04. 1,441,309 shares of the company’s stock traded hands, compared to its average volume of 2,264,737. Verastem has a 1-year low of $2.77 and a 1-year high of $10.35. The stock has a market capitalization of $232.44 million, a price-to-earnings ratio of -1.73 and a beta of 3.07. 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 Verastem Oncology, is 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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