Analysts forecast that Verastem Inc (NASDAQ:VSTM) will report earnings of ($0.43) per share for the current quarter, Zacks reports. Zero analysts have made estimates for Verastem’s earnings. The lowest EPS estimate is ($0.51) and the highest is ($0.40). Verastem reported earnings per share of ($0.61) in the same quarter last year, which indicates a positive year-over-year growth rate of 29.5%. The firm is scheduled to announce its next earnings report on Tuesday, November 6th.

On average, analysts expect that Verastem will report full-year earnings of ($1.64) per share for the current fiscal year, with EPS estimates ranging from ($1.84) to ($1.44). For the next financial year, analysts forecast that the firm will post earnings of ($1.33) per share, with EPS estimates ranging from ($1.65) to ($0.92). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Verastem.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.03. The business had revenue of $10.00 million during the quarter.

Several brokerages recently issued reports on VSTM. BidaskClub raised Verastem from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 28th. HC Wainwright increased their price objective on Verastem to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, September 25th. Zacks Investment Research raised Verastem from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research note on Friday, July 20th. Raymond James increased their price objective on Verastem from $7.00 to $12.00 in a research note on Friday, August 10th. Finally, BTIG Research began coverage on Verastem in a research note on Friday, July 13th. They issued a “buy” rating and a $17.00 price objective for the company. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Verastem presently has a consensus rating of “Buy” and a consensus price target of $14.40.

In other news, CEO Robert Forrester purchased 10,500 shares of the business’s stock in a transaction dated Thursday, September 27th. The stock was bought at an average cost of $7.00 per share, with a total value of $73,500.00. Following the purchase, the chief executive officer now directly owns 209,234 shares of the company’s stock, valued at $1,464,638. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael Kauffman purchased 4,000 shares of the business’s stock in a transaction dated Friday, September 28th. The shares were purchased at an average cost of $7.49 per share, with a total value of $29,960.00. Following the completion of the purchase, the director now directly owns 4,000 shares in the company, valued at $29,960. The disclosure for this purchase can be found here. Insiders have bought a total of 19,500 shares of company stock valued at $139,420 over the last ninety days. Company insiders own 7.06% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System purchased a new stake in shares of Verastem during the 2nd quarter worth about $100,000. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Verastem during the 2nd quarter worth about $130,000. Voya Investment Management LLC purchased a new stake in shares of Verastem during the 2nd quarter worth about $139,000. MetLife Investment Advisors LLC purchased a new stake in shares of Verastem during the 2nd quarter worth about $184,000. Finally, First Allied Advisory Services Inc. purchased a new stake in shares of Verastem during the 2nd quarter worth about $240,000. 43.46% of the stock is owned by institutional investors.

Shares of Verastem stock opened at $5.65 on Wednesday. The stock has a market capitalization of $533.54 million, a P/E ratio of -3.21 and a beta of 2.76. The company has a debt-to-equity ratio of 0.19, a current ratio of 7.70 and a quick ratio of 7.70. Verastem has a 1 year low of $2.77 and a 1 year high of $10.35.

About Verastem

Verastem, Inc, a biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer. Its programs target the focal adhesion kinase (FAK) and the phosphoinositide 3-kinase (PI3K) signaling pathways. The company's lead FAK inhibitor is defactinib, an orally available candidate for combination therapy with immuno-oncology agents and other anti-cancer compounds.

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Earnings History and Estimates for Verastem (NASDAQ:VSTM)

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