Verastem (NASDAQ:VSTM) Issues Earnings Results

Verastem (NASDAQ:VSTM) released its earnings results on Thursday. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.49) by ($0.03), Morningstar.com reports. The business had revenue of $3.14 million during the quarter, compared to analyst estimates of $2.22 million. Verastem had a negative net margin of 315.21% and a negative return on equity of 79.68%.

Shares of VSTM stock opened at $1.40 on Friday. The stock has a 50 day moving average price of $1.50. The company has a debt-to-equity ratio of 1.42, a current ratio of 7.57 and a quick ratio of 7.56. Verastem has a 12 month low of $1.16 and a 12 month high of $10.35. The company has a market cap of $110.82 million, a P/E ratio of -1.02 and a beta of 2.94.

Hedge funds have recently made changes to their positions in the business. Stratos Wealth Partners LTD. bought a new stake in shares of Verastem in the 1st quarter worth approximately $30,000. Amalgamated Bank bought a new stake in shares of Verastem in the 4th quarter worth approximately $35,000. Principal Financial Group Inc. bought a new stake in shares of Verastem in the 4th quarter worth approximately $35,000. Commonwealth Equity Services LLC lifted its position in shares of Verastem by 43.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 26,697 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 8,054 shares during the period. Finally, BNP Paribas Arbitrage SA bought a new stake in shares of Verastem in the 1st quarter worth approximately $42,000. Institutional investors own 43.80% of the company’s stock.

VSTM has been the topic of a number of research analyst reports. Roth Capital lowered their target price on Verastem from $14.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, May 14th. HC Wainwright reaffirmed a “buy” rating and issued a $2.50 target price on shares of Verastem in a report on Friday, May 10th. B. Riley reaffirmed a “buy” rating on shares of Verastem in a report on Thursday, May 9th. BTIG Research lowered Verastem from a “buy” rating to a “neutral” rating in a report on Thursday, June 20th. Finally, Zacks Investment Research raised Verastem from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $6.46.

Verastem Company Profile

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.

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Earnings History for Verastem (NASDAQ:VSTM)

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