Verastem, Inc. (NASDAQ:VSTM) Expected to Post Earnings of -$0.09 Per Share

Wall Street brokerages predict that Verastem, Inc. (NASDAQ:VSTM) will post earnings of ($0.09) per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Verastem’s earnings. Verastem reported earnings of $0.08 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 212.5%. The firm is expected to issue its next earnings results on Monday, November 8th.

According to Zacks, analysts expect that Verastem will report full year earnings of ($0.38) per share for the current fiscal year. For the next fiscal year, analysts expect that the firm will post earnings of ($0.40) per share. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Verastem.

Verastem (NASDAQ:VSTM) last released its quarterly earnings data on Sunday, August 1st. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The firm had revenue of $0.50 million during the quarter. Verastem had a negative return on equity of 35.48% and a negative net margin of 47.93%.

VSTM has been the subject of a number of recent research reports. Zacks Investment Research lowered Verastem from a “hold” rating to a “sell” rating in a research note on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $5.00 target price on shares of Verastem in a research note on Monday. Finally, Alliance Global Partners reiterated a “buy” rating and issued a $6.00 target price on shares of Verastem in a research note on Tuesday, August 3rd. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $5.69.

A number of hedge funds and other institutional investors have recently modified their holdings of VSTM. Baker BROS. Advisors LP grew its stake in Verastem by 67.8% during the 1st quarter. Baker BROS. Advisors LP now owns 17,019,294 shares of the biopharmaceutical company’s stock valued at $42,038,000 after purchasing an additional 6,875,255 shares in the last quarter. State Street Corp grew its stake in Verastem by 154.1% during the 2nd quarter. State Street Corp now owns 7,149,593 shares of the biopharmaceutical company’s stock valued at $29,099,000 after purchasing an additional 4,335,841 shares in the last quarter. Artisan Partners Limited Partnership acquired a new stake in Verastem during the 2nd quarter valued at approximately $7,482,000. Millennium Management LLC acquired a new stake in Verastem during the 2nd quarter valued at approximately $5,703,000. Finally, Lord Abbett & CO. LLC acquired a new stake in Verastem during the 2nd quarter valued at approximately $5,616,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Shares of Verastem stock traded down $0.03 during trading hours on Friday, reaching $3.17. The stock had a trading volume of 2,392,857 shares, compared to its average volume of 2,778,075. The company has a current ratio of 9.01, a quick ratio of 9.01 and a debt-to-equity ratio of 0.23. Verastem has a 1 year low of $1.14 and a 1 year high of $4.93. The firm has a market capitalization of $573.00 million, a price-to-earnings ratio of -14.04 and a beta of 0.88. The firm has a 50 day simple moving average of $2.91 and a two-hundred day simple moving average of $3.16.

Verastem Company Profile

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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Earnings History and Estimates for Verastem (NASDAQ:VSTM)

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