Analysts Anticipate Verastem, Inc. (NASDAQ:VSTM) to Post -$0.34 Earnings Per Share

Equities research analysts forecast that Verastem, Inc. (NASDAQ:VSTM) will report earnings per share of ($0.34) for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Verastem’s earnings, with the highest EPS estimate coming in at ($0.29) and the lowest estimate coming in at ($0.37). Verastem reported earnings per share of ($0.23) during the same quarter last year, which suggests a negative year-over-year growth rate of 47.8%. The company is expected to announce its next quarterly earnings report on Monday, August 14th.

On average, analysts expect that Verastem will report full-year earnings of ($1.29) per share for the current financial year, with EPS estimates ranging from ($1.38) to ($1.25). For the next year, analysts anticipate that the company will post earnings of ($1.44) per share, with EPS estimates ranging from ($2.15) to ($1.11). Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover Verastem.

Verastem (NASDAQ:VSTM) last released its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.35).

Several research firms have issued reports on VSTM. Cann restated a “buy” rating and set a $6.00 price target on shares of Verastem in a research report on Tuesday, July 25th. Zacks Investment Research lowered shares of Verastem from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Jefferies Group LLC restated a “hold” rating and set a $1.50 price target on shares of Verastem in a research report on Wednesday, June 28th. Cantor Fitzgerald restated a “hold” rating and set a $2.00 price target on shares of Verastem in a research report on Thursday, June 8th. Finally, Oppenheimer Holdings, Inc. set a $6.00 price target on shares of Verastem and gave the company a “buy” rating in a research report on Sunday, June 4th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Verastem has an average rating of “Buy” and a consensus price target of $4.54.

In other news, Director Timothy J. Barberich bought 30,000 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was bought at an average cost of $2.45 per share, for a total transaction of $73,500.00. Following the completion of the acquisition, the director now owns 69,462 shares in the company, valued at approximately $170,181.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. FMR LLC raised its stake in Verastem by 32.2% in the fourth quarter. FMR LLC now owns 901,200 shares of the biopharmaceutical company’s stock worth $1,009,000 after buying an additional 219,445 shares in the last quarter. Renaissance Technologies LLC raised its stake in Verastem by 20.0% in the first quarter. Renaissance Technologies LLC now owns 1,226,600 shares of the biopharmaceutical company’s stock worth $2,539,000 after buying an additional 204,400 shares in the last quarter. TFS Capital LLC purchased a new stake in Verastem during the first quarter worth $113,000. Finally, Howland Capital Management LLC raised its stake in Verastem by 16.5% in the second quarter. Howland Capital Management LLC now owns 294,007 shares of the biopharmaceutical company’s stock worth $641,000 after buying an additional 41,616 shares in the last quarter. Institutional investors own 22.62% of the company’s stock.

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Verastem (NASDAQ:VSTM) traded up 1.38% during midday trading on Thursday, hitting $3.68. The company had a trading volume of 641,118 shares. The firm’s 50 day moving average is $2.94 and its 200-day moving average is $2.02. Verastem has a 52 week low of $1.05 and a 52 week high of $4.67. The firm’s market capitalization is $136.13 million.

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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Earnings History and Estimates for Verastem (NASDAQ:VSTM)

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