Analysts expect Verastem Inc (NASDAQ:VSTM) to report sales of $6.54 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Verastem’s earnings, with the highest sales estimate coming in at $11.55 million and the lowest estimate coming in at $3.97 million. The firm is expected to issue its next earnings report on Tuesday, March 12th.

According to Zacks, analysts expect that Verastem will report full year sales of $27.64 million for the current fiscal year, with estimates ranging from $10.00 million to $37.06 million. For the next year, analysts anticipate that the firm will report sales of $52.76 million, with estimates ranging from $16.40 million to $85.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Verastem.

Verastem (NASDAQ:VSTM) last posted its earnings results 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 company had revenue of $15.51 million for the quarter.

Several equities analysts have recently weighed in on the company. Raymond James lifted their price objective on Verastem from $7.00 to $12.00 in a report on Friday, August 10th. Cann reiterated a “buy” rating and set a $16.00 price objective on shares of Verastem in a report on Thursday, August 9th. BidaskClub upgraded Verastem from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 28th. Roth Capital set a $14.00 price objective on Verastem and gave the company a “buy” rating in a report on Friday, November 9th. Finally, ValuEngine cut Verastem from a “strong-buy” rating to a “buy” rating in a report on Monday, October 29th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Verastem presently has a consensus rating of “Buy” and an average target price of $14.60.

Shares of Verastem stock traded down $0.37 during trading on Wednesday, hitting $4.84. 2,537,184 shares of the company were exchanged, compared to its average volume of 1,720,980. Verastem has a 1-year low of $2.77 and a 1-year high of $10.35. The company has a current ratio of 2.97, a quick ratio of 2.97 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $376.34 million, a P/E ratio of -2.75 and a beta of 3.14.

In other news, CEO Robert Forrester bought 10,500 shares of the business’s stock in a transaction on Thursday, September 27th. The shares were purchased 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 approximately $1,464,638. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael Kauffman bought 4,000 shares of the business’s stock in a transaction on Friday, September 28th. The stock was purchased at an average price of $7.49 per share, for a total transaction 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 acquired a total of 19,500 shares of company stock worth $139,420 in the last 90 days. Company insiders own 5.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VSTM. BlackRock Inc. lifted its stake in Verastem by 7.2% in the 1st quarter. BlackRock Inc. now owns 1,040,059 shares of the biopharmaceutical company’s stock valued at $3,100,000 after acquiring an additional 70,138 shares in the last quarter. Creative Planning increased its position in shares of Verastem by 30.1% during the 2nd quarter. Creative Planning now owns 58,550 shares of the biopharmaceutical company’s stock worth $403,000 after purchasing an additional 13,550 shares during the last quarter. Barrett Asset Management LLC acquired a new position in shares of Verastem during the 2nd quarter worth approximately $344,000. SeaCrest Wealth Management LLC increased its position in shares of Verastem by 112.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 37,104 shares of the biopharmaceutical company’s stock worth $255,000 after purchasing an additional 19,651 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Verastem by 17,373.4% during the 2nd quarter. Sei Investments Co. now owns 121,440 shares of the biopharmaceutical company’s stock worth $836,000 after purchasing an additional 120,745 shares during the last quarter. Hedge funds and other institutional investors own 48.83% of the company’s stock.

About Verastem

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

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