Analysts Anticipate Verastem, Inc. (NASDAQ:VSTM) Will Post Earnings of -$0.08 Per Share

Brokerages expect that Verastem, Inc. (NASDAQ:VSTM) will report ($0.08) earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have made estimates for Verastem’s earnings. Verastem reported earnings per share of ($0.12) in the same quarter last year, which would suggest a positive year-over-year growth rate of 33.3%. The firm is expected to announce its next earnings report on Thursday, March 17th.

On average, analysts expect that Verastem will report full-year earnings of ($0.39) per share for the current fiscal year. For the next year, analysts forecast that the firm will report earnings of ($0.33) per share. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Verastem.

Verastem (NASDAQ:VSTM) last released its earnings results on Thursday, November 4th. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.05). Verastem had a negative net margin of 3,703.23% and a negative return on equity of 74.26%.

Several equities analysts have weighed in on the company. Zacks Investment Research upgraded Verastem from a “sell” rating to a “hold” rating in a research note on Friday, October 8th. HC Wainwright restated a “buy” rating and issued a $5.00 target price on shares of Verastem in a research note on Monday, September 20th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $5.69.

In other news, CEO Brian M. Stuglik sold 13,682 shares of the business’s stock in a transaction that occurred on Monday, December 20th. The stock was sold at an average price of $2.27, for a total transaction of $31,058.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold 30,173 shares of company stock worth $68,493 over the last three months. Insiders own 2.90% of the company’s stock.

A number of hedge funds have recently modified their holdings of VSTM. Synovus Financial Corp purchased a new stake in Verastem in the third quarter worth $31,000. Rockefeller Capital Management L.P. grew its stake in Verastem by 61.7% in the second quarter. Rockefeller Capital Management L.P. now owns 9,700 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 3,700 shares during the period. Valeo Financial Advisors LLC grew its stake in Verastem by 40.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 22,500 shares of the biopharmaceutical company’s stock worth $46,000 after purchasing an additional 6,500 shares during the period. Marshall Wace North America L.P. purchased a new stake in Verastem in the first quarter worth $62,000. Finally, Mackenzie Financial Corp bought a new stake in Verastem in the third quarter worth $65,000. 63.26% of the stock is currently owned by institutional investors.

Shares of VSTM opened at $1.80 on Wednesday. Verastem has a 12-month low of $1.73 and a 12-month high of $4.94. The business’s fifty day moving average is $2.43 and its 200 day moving average is $2.80. The stock has a market cap of $327.93 million, a P/E ratio of -4.09 and a beta of 0.60.

About Verastem

Verastem, Inc is a biopharmaceutical company, which engages in the development and commercialization of drugs for the treatment of 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 Needham, MA.

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