Analysts Expect Verastem Inc (VSTM) Will Announce Quarterly Sales of $2.84 Million

Brokerages expect Verastem Inc (NASDAQ:VSTM) to post $2.84 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Verastem’s earnings, with estimates ranging from $2.12 million to $4.62 million. Verastem posted sales of $10.00 million in the same quarter last year, which suggests a negative year-over-year growth rate of 71.6%. The firm is expected to announce its next quarterly earnings results on Wednesday, August 14th.

On average, analysts expect that Verastem will report full-year sales of $13.51 million for the current year, with estimates ranging from $7.54 million to $23.11 million. For the next fiscal year, analysts forecast that the firm will report sales of $31.07 million, with estimates ranging from $28.85 million to $35.14 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Verastem.

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

VSTM has been the subject of a number of research analyst reports. Roth Capital decreased their target price on Verastem from $14.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday. B. Riley reaffirmed a “buy” rating on shares of Verastem in a research report on Thursday, May 9th. BTIG Research decreased their target price on Verastem to $8.00 and set a “buy” rating for the company in a research report on Friday, May 10th. HC Wainwright reaffirmed a “buy” rating and set a $2.50 target price on shares of Verastem in a research report on Friday, May 10th. Finally, Raymond James lowered Verastem from an “outperform” rating to a “market perform” rating in a research report on Friday, May 10th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Verastem currently has a consensus rating of “Hold” and an average target price of $8.69.

In other news, Director Timothy J. Barberich bought 33,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was acquired at an average cost of $3.21 per share, with a total value of $105,930.00. Following the transaction, the director now directly owns 168,000 shares in the company, valued at approximately $539,280. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of VSTM. Millennium Management LLC increased its holdings in shares of 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 acquiring an additional 1,197,642 shares during the period. Two Sigma Investments LP increased its holdings in shares of 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 acquiring an additional 1,159,874 shares during the period. BlackRock Inc. increased its holdings in shares of Verastem by 31.1% in the 3rd quarter. BlackRock Inc. now owns 4,644,888 shares of the biopharmaceutical company’s stock valued at $33,676,000 after acquiring an additional 1,101,976 shares during the period. Citigroup Inc. increased its holdings in shares of Verastem by 246.4% in the 4th quarter. Citigroup Inc. now owns 908,904 shares of the biopharmaceutical company’s stock valued at $3,054,000 after acquiring an additional 646,545 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of 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 acquiring an additional 539,193 shares during the period. 58.00% of the stock is owned by institutional investors and hedge funds.

Shares of VSTM stock traded up $0.04 on Wednesday, reaching $1.54. 2,261,400 shares of the company’s stock were exchanged, compared to its average volume of 2,691,365. Verastem has a 52 week low of $1.20 and a 52 week high of $10.35. The company has a debt-to-equity ratio of 1.42, a quick ratio of 7.56 and a current ratio of 7.57. The firm has a market capitalization of $95.30 million, a P/E ratio of -1.12 and a beta of 2.83.

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 and Estimates for Verastem (NASDAQ:VSTM)

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