-$0.43 EPS Expected for Verastem Inc (VSTM) This Quarter

Wall Street brokerages expect Verastem Inc (NASDAQ:VSTM) to announce earnings per share (EPS) of ($0.43) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Verastem’s earnings, with estimates ranging from ($0.56) to ($0.34). Verastem reported earnings of ($0.32) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 34.4%. The business is expected to report its next earnings results on Thursday, March 22nd.

According to Zacks, analysts expect that Verastem will report full year earnings of ($1.74) per share for the current fiscal year, with EPS estimates ranging from ($1.90) to ($1.66). For the next financial year, analysts forecast that the firm will post earnings of ($1.54) per share, with EPS estimates ranging from ($1.86) to ($1.26). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Verastem.

Verastem (NASDAQ:VSTM) last announced its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.29).

Several brokerages recently issued reports on VSTM. Oppenheimer set a $13.00 target price on shares of Verastem and gave the company a “buy” rating in a research report on Thursday, December 21st. HC Wainwright set a $10.00 target price on shares of Verastem and gave the company a “buy” rating in a research report on Wednesday, December 13th. Raymond James Financial restated a “buy” rating on shares of Verastem in a research report on Monday, December 11th. Cantor Fitzgerald set a $17.00 target price on shares of Verastem and gave the company a “buy” rating in a research report on Sunday, December 10th. Finally, Cann restated a “buy” rating and set a $15.00 target price (up from $6.00) on shares of Verastem in a research report on Sunday, December 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. Verastem currently has a consensus rating of “Buy” and a consensus target price of $9.78.

In other news, Director Timothy J. Barberich purchased 60,538 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was acquired at an average cost of $3.95 per share, for a total transaction of $239,125.10. Following the completion of the transaction, the director now directly owns 130,000 shares in the company, valued at approximately $513,500. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.51% of the company’s stock.

Several large investors have recently modified their holdings of VSTM. Cubist Systematic Strategies LLC bought a new position in shares of Verastem during the third quarter worth $136,000. Northern Trust Corp boosted its position in shares of Verastem by 40.3% during the second quarter. Northern Trust Corp now owns 73,750 shares of the biopharmaceutical company’s stock worth $160,000 after acquiring an additional 21,178 shares during the last quarter. Citadel Advisors LLC bought a new position in shares of Verastem during the third quarter worth $195,000. OxFORD Asset Management LLP bought a new position in shares of Verastem during the second quarter worth $234,000. Finally, Susquehanna International Group LLP boosted its position in shares of Verastem by 137.1% during the third quarter. Susquehanna International Group LLP now owns 75,526 shares of the biopharmaceutical company’s stock worth $355,000 after acquiring an additional 43,675 shares during the last quarter. Hedge funds and other institutional investors own 28.66% of the company’s stock.

Shares of Verastem (NASDAQ:VSTM) traded up $0.04 during midday trading on Monday, reaching $3.05. 477,531 shares of the company traded hands, compared to its average volume of 1,065,942. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.12 and a quick ratio of 3.12. The company has a market capitalization of $145.59, a price-to-earnings ratio of -1.86 and a beta of 2.19. Verastem has a 12 month low of $1.11 and a 12 month high of $5.71.

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About Verastem

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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