Verastem, Inc. (NASDAQ:VSTM) Expected to Post Earnings of -$0.34 Per Share
Brokerages expect that Verastem, Inc. (NASDAQ:VSTM) will report earnings per share (EPS) of ($0.34) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have made estimates for Verastem’s earnings, with the lowest EPS estimate coming in at ($0.37) and the highest estimate coming in at ($0.29). Verastem reported earnings per share of ($0.23) in the same quarter last year, which would suggest a negative year-over-year growth rate of 47.8%. The business is expected to report its next quarterly earnings results on Monday, August 14th.
According to Zacks, analysts expect that Verastem will report full year earnings of ($1.29) per share for the current fiscal year, with EPS estimates ranging from ($1.38) to ($1.25). For the next year, analysts anticipate that the business will post earnings of ($1.44) per share, with EPS estimates ranging from ($2.15) to ($1.11). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Verastem.
Verastem (NASDAQ:VSTM) last released its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.35) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.35).
Several analysts recently issued reports on VSTM shares. Oppenheimer Holdings, Inc. set a $6.00 price target on shares of Verastem and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Cann restated a “buy” rating and issued a $2.00 target price on shares of Verastem in a research report on Thursday, May 11th. Zacks Investment Research upgraded shares of Verastem from a “hold” rating to a “buy” rating and set a $3.75 target price on the stock in a research report on Thursday, July 13th. Jefferies Group LLC restated a “hold” rating and issued a $1.50 target price on shares of Verastem in a research report on Wednesday, June 28th. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $2.00 target price on shares of Verastem in a research report on Thursday, June 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $4.54.
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In other Verastem news, Director Timothy J. Barberich purchased 30,000 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were bought at an average price of $2.45 per share, for a total transaction of $73,500.00. Following the completion of the acquisition, the director now owns 69,462 shares in the company, valued at $170,181.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.00% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. Howland Capital Management LLC raised its position in shares of Verastem by 16.5% in the second quarter. Howland Capital Management LLC now owns 294,007 shares of the biopharmaceutical company’s stock worth $641,000 after buying an additional 41,616 shares during the period. Renaissance Technologies LLC raised its position in shares of Verastem by 20.0% in the first quarter. Renaissance Technologies LLC now owns 1,226,600 shares of the biopharmaceutical company’s stock worth $2,539,000 after buying an additional 204,400 shares during the period. TFS Capital LLC acquired a new position in shares of Verastem during the first quarter worth approximately $113,000. Finally, FMR LLC raised its position in shares of Verastem by 32.2% in the fourth quarter. FMR LLC now owns 901,200 shares of the biopharmaceutical company’s stock worth $1,009,000 after buying an additional 219,445 shares during the period. Institutional investors own 22.48% of the company’s stock.
Shares of Verastem (NASDAQ:VSTM) opened at 3.58 on Thursday. The firm has a 50-day moving average price of $2.82 and a 200 day moving average price of $1.96. Verastem has a 52-week low of $1.05 and a 52-week high of $4.67. The stock’s market cap is $132.43 million.
Verastem Company Profile
Verastem, Inc is a biopharmaceutical company. The Company is focused on discovering and developing drugs to improve outcomes for patients with cancer. The Company operates in the segment of developing drugs for the treatment of cancer. The Company’s advanced product candidates are VS 6063, VS 4718 and VS 5584.
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