B. Riley Estimates Verastem’s FY2024 Earnings (NASDAQ:VSTM)

Verastem, Inc. (NASDAQ:VSTM) – Stock analysts at B. Riley increased their FY2024 earnings estimates for Verastem in a research note issued to investors on Monday, November 18th. B. Riley analyst K. Patel now forecasts that the biopharmaceutical company will post earnings of ($3.12) per share for the year, up from their prior forecast of ($3.43). The consensus estimate for Verastem’s current full-year earnings is ($3.24) per share. B. Riley also issued estimates for Verastem’s Q4 2024 earnings at ($0.86) EPS, FY2025 earnings at ($2.51) EPS, FY2026 earnings at ($1.39) EPS, FY2027 earnings at $0.13 EPS and FY2028 earnings at $1.38 EPS.

Several other analysts have also issued reports on VSTM. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Verastem in a research report on Friday, October 18th. StockNews.com lowered shares of Verastem from a “hold” rating to a “sell” rating in a research report on Tuesday. Guggenheim initiated coverage on shares of Verastem in a research report on Monday, September 30th. They set a “buy” rating and a $13.00 price target on the stock. Truist Financial dropped their price target on shares of Verastem from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price target on shares of Verastem in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

Verastem Stock Performance

Shares of VSTM stock opened at $3.93 on Thursday. The company’s fifty day simple moving average is $3.30 and its 200-day simple moving average is $3.96. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 2.77. The firm has a market cap of $174.92 million, a PE ratio of -1.23 and a beta of 0.14. Verastem has a 12 month low of $2.10 and a 12 month high of $14.22.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.11.

Hedge Funds Weigh In On Verastem

Several institutional investors and hedge funds have recently modified their holdings of VSTM. FMR LLC acquired a new position in shares of Verastem in the third quarter valued at about $41,000. SG Americas Securities LLC acquired a new position in shares of Verastem in the third quarter valued at about $43,000. Apollon Wealth Management LLC grew its stake in shares of Verastem by 104.6% in the third quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock valued at $61,000 after acquiring an additional 10,457 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Verastem in the second quarter valued at about $82,000. Finally, Rhumbline Advisers grew its stake in shares of Verastem by 4,172.0% in the second quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock valued at $86,000 after acquiring an additional 28,119 shares in the last quarter. 88.37% of the stock is currently owned by institutional investors and hedge funds.

Verastem Company Profile

Verastem, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer in the United States. Its product candidates are Avutometinib, an orally available small molecule RAF/MEK clamp that inhibits the ras sarcoma RAF/MEK, ERK mitogen activated pathway kinase pathway which is involved in cell proliferation, migration, transformation, and survival of tumor cells; and Defactinib, an oral small molecule inhibitor of FAK and proline-rich tyrosine kinase for various solid tumors.