Verastem Inc (NASDAQ:VSTM) – B. Riley dropped their Q3 2018 earnings estimates for Verastem in a report released on Tuesday, September 25th, Zacks Investment Research reports. B. Riley analyst G. Zavoico now expects that the biopharmaceutical company will earn ($0.41) per share for the quarter, down from their previous estimate of ($0.29). B. Riley also issued estimates for Verastem’s Q4 2018 earnings at ($0.68) EPS, FY2018 earnings at ($1.84) EPS, Q1 2019 earnings at ($0.40) EPS, Q2 2019 earnings at ($0.34) EPS, Q3 2019 earnings at ($0.41) EPS, Q4 2019 earnings at ($0.40) EPS and FY2019 earnings at ($1.56) EPS.
Verastem (NASDAQ:VSTM) last announced its earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.03. The business had revenue of $10.00 million during the quarter.
A number of other equities research analysts have also recently commented on the stock. BTIG Research set a $17.00 price target on shares of Verastem and gave the stock a “buy” rating in a report on Tuesday, September 25th. HC Wainwright lifted their price target on shares of Verastem to $15.00 and gave the stock a “buy” rating in a report on Tuesday, September 25th. BidaskClub cut shares of Verastem from a “strong-buy” rating to a “buy” rating in a report on Friday, September 7th. Raymond James lifted their price target on shares of Verastem from $7.00 to $12.00 in a report on Friday, August 10th. Finally, Cann reissued a “buy” rating and set a $16.00 target price on shares of Verastem in a report on Thursday, August 9th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Verastem currently has an average rating of “Buy” and an average target price of $14.40.
Shares of NASDAQ VSTM opened at $5.65 on Thursday. The company has a current ratio of 7.70, a quick ratio of 7.70 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $533.54 million, a PE ratio of -3.21 and a beta of 2.76. Verastem has a twelve month low of $2.77 and a twelve month high of $10.35.
In other news, Director Michael Kauffman purchased 4,000 shares of the firm’s stock in a transaction dated Friday, September 28th. The shares were purchased at an average price of $7.49 per share, with a total value of $29,960.00. Following the completion of the acquisition, the director now owns 4,000 shares in the company, valued at approximately $29,960. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robert Forrester purchased 10,500 shares of the firm’s stock in a transaction dated Thursday, September 27th. The stock was purchased at an average cost of $7.00 per share, for a total transaction of $73,500.00. Following the acquisition, the chief executive officer now owns 209,234 shares of the company’s stock, valued at approximately $1,464,638. The disclosure for this purchase can be found here. Insiders have acquired a total of 19,500 shares of company stock worth $139,420 in the last three months. Insiders own 7.06% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Creative Planning increased its holdings in shares of Verastem by 30.1% in the second quarter. Creative Planning now owns 58,550 shares of the biopharmaceutical company’s stock worth $403,000 after purchasing an additional 13,550 shares during the period. State Board of Administration of Florida Retirement System bought a new position in shares of Verastem in the second quarter worth $100,000. Metropolitan Life Insurance Co. NY bought a new position in shares of Verastem in the second quarter worth $130,000. SeaCrest Wealth Management LLC increased its holdings in shares of Verastem by 112.6% in the second quarter. SeaCrest Wealth Management LLC now owns 37,104 shares of the biopharmaceutical company’s stock worth $255,000 after purchasing an additional 19,651 shares during the period. Finally, Voya Investment Management LLC bought a new position in shares of Verastem in the second quarter worth $139,000. 43.46% of the stock is currently owned by hedge funds and other institutional investors.
Verastem Company Profile
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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