Zacks: Analysts Expect Verastem Inc (NASDAQ:VSTM) to Post -$0.49 Earnings Per Share

Brokerages predict that Verastem Inc (NASDAQ:VSTM) will report ($0.49) earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have provided estimates for Verastem’s earnings, with estimates ranging from ($0.49) to ($0.48). Verastem reported earnings of ($0.30) per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 63.3%. The business is expected to report its next quarterly earnings report on Wednesday, August 14th.

According to Zacks, analysts expect that Verastem will report full year earnings of ($1.97) per share for the current fiscal year, with EPS estimates ranging from ($1.98) to ($1.95). For the next fiscal year, analysts anticipate that the business will post earnings of ($1.79) per share, with EPS estimates ranging from ($1.87) to ($1.68). Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that cover Verastem.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.05). The business had revenue of $1.67 million for the quarter, compared to the consensus estimate of $2.84 million. Verastem had a negative return on equity of 79.68% and a negative net margin of 315.21%.

VSTM has been the topic of a number of recent research reports. B. Riley reiterated a “buy” rating and issued a $26.00 target price (up from $24.00) on shares of KEMET in a report on Thursday, May 9th. ValuEngine cut Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Zacks Investment Research upgraded Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Saturday, July 13th. BTIG Research increased their price target on Innovative Industrial Properties to $148.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Finally, Roth Capital set a $10.00 price target on Savara and gave the company a “hold” rating in a research report on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $7.66.

Shares of Verastem stock traded down $0.16 on Friday, reaching $1.43. 1,349,942 shares of the company’s stock were exchanged, compared to its average volume of 1,804,062. The firm has a market cap of $105.64 million, a P/E ratio of -1.04 and a beta of 2.98. Verastem has a 52 week low of $1.16 and a 52 week high of $10.35. The business has a 50-day moving average price of $1.46. The company has a quick ratio of 7.56, a current ratio of 7.57 and a debt-to-equity ratio of 1.42.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Verastem by 21.0% in the 4th quarter. BlackRock Inc. now owns 5,621,011 shares of the biopharmaceutical company’s stock valued at $18,886,000 after buying an additional 976,123 shares during the last quarter. Millennium Management LLC raised its position in Verastem by 2,376.5% in the 4th quarter. Millennium Management LLC now owns 1,248,037 shares of the biopharmaceutical company’s stock valued at $4,193,000 after buying an additional 1,197,642 shares during the last quarter. Two Sigma Investments LP raised its position in Verastem by 1,540.3% in the 4th quarter. Two Sigma Investments LP now owns 1,235,176 shares of the biopharmaceutical company’s stock valued at $4,150,000 after buying an additional 1,159,874 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Verastem by 98.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,085,135 shares of the biopharmaceutical company’s stock valued at $3,646,000 after buying an additional 539,193 shares during the last quarter. Finally, Two Sigma Advisers LP raised its position in Verastem by 711.1% in the 4th quarter. Two Sigma Advisers LP now owns 256,300 shares of the biopharmaceutical company’s stock valued at $861,000 after buying an additional 224,700 shares during the last quarter. 43.82% of the stock is owned by institutional investors and hedge funds.

About Verastem

Verastem, Inc, a biopharmaceutical company, focusing on developing and commercializing medicines to improve the survival and quality of life of cancer patients. It markets COPIKTRA (duvelisib), an oral inhibitor of phosphoinositide 3-kinase (PI3K) and dual inhibitor of PI3K-delta and PI3K-gamma, which is indicated for the treatment of adult patients with relapsed or refractory chronic lymphocytic leukemia/small lymphocytic lymphoma after at least two prior therapies and relapsed or refractory follicular lymphoma (FL) after at least two prior systemic therapies.

See Also: Gross Domestic Product (GDP)

Get a free copy of the Zacks research report on Verastem (VSTM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Verastem (NASDAQ:VSTM)

Receive News & Ratings for Verastem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verastem and related companies with MarketBeat.com's FREE daily email newsletter.