Analysts Issue Forecasts for Verastem FY2030 Earnings

Verastem, Inc. (NASDAQ:VSTM) – Equities research analysts at HC Wainwright issued their FY2030 EPS estimates for Verastem in a research report issued on Wednesday, February 4th. HC Wainwright analyst A. Maldonado expects that the biopharmaceutical company will earn $2.30 per share for the year. HC Wainwright currently has a “Buy” rating and a $18.00 target price on the stock. The consensus estimate for Verastem’s current full-year earnings is ($3.02) per share.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($1.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.84). The company had revenue of $11.24 million for the quarter, compared to analyst estimates of $5.76 million.

A number of other equities research analysts also recently weighed in on VSTM. Wall Street Zen downgraded Verastem from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Guggenheim reiterated a “buy” rating on shares of Verastem in a research report on Tuesday, December 30th. Royal Bank Of Canada set a $13.00 price objective on Verastem and gave the stock an “outperform” rating in a report on Monday, October 20th. Zacks Research downgraded shares of Verastem from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Verastem in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.83.

Verastem Stock Up 7.8%

NASDAQ:VSTM opened at $6.79 on Thursday. The company has a market cap of $453.44 million, a price-to-earnings ratio of -1.68 and a beta of 0.41. The company has a debt-to-equity ratio of 2.06, a quick ratio of 2.55 and a current ratio of 2.58. The stock’s fifty day moving average price is $7.92 and its two-hundred day moving average price is $8.26. Verastem has a 52-week low of $4.01 and a 52-week high of $11.24.

Insider Activity

In related news, Director Paul A. Bunn sold 6,250 shares of Verastem stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $10.00, for a total transaction of $62,500.00. Following the transaction, the director owned 2,083 shares of the company’s stock, valued at $20,830. This trade represents a 75.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel Calkins sold 5,039 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $7.16, for a total transaction of $36,079.24. Following the transaction, the chief financial officer owned 104,719 shares of the company’s stock, valued at approximately $749,788.04. This represents a 4.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 49,508 shares of company stock worth $455,556 over the last quarter. 2.10% of the stock is owned by insiders.

Institutional Trading of Verastem

A number of large investors have recently made changes to their positions in VSTM. Russell Investments Group Ltd. lifted its holdings in Verastem by 182.9% during the third quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 2,960 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Verastem by 110.9% in the third quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock worth $75,000 after acquiring an additional 4,496 shares in the last quarter. E Fund Management Co. Ltd. acquired a new stake in shares of Verastem during the second quarter worth about $49,000. Nebula Research & Development LLC acquired a new stake in shares of Verastem during the second quarter worth about $53,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Verastem by 9.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 1,440 shares in the last quarter. Institutional investors own 88.37% of the company’s stock.

About Verastem

Verastem Oncology, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small molecule therapies that target cancer stemness and resistance pathways. Established in 2010 and headquartered in Needham, Massachusetts, Verastem Oncology applies a precision-medicine approach to identify key signaling nodes responsible for tumor growth and relapse, with an emphasis on hematologic malignancies and solid tumors. The company’s research platform integrates insights into complex signaling networks to advance novel compounds from early discovery through clinical proof of concept.

The company’s lead marketed product is COPIKTRA (duvelisib), an oral inhibitor of PI3K-delta and PI3K-gamma, which received U.S.