Verastem (NASDAQ:VSTM) Releases Earnings Results, Misses Expectations By $0.57 EPS

Verastem (NASDAQ:VSTM) posted its quarterly earnings data on Thursday. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.57), Zacks reports.

Verastem Trading Down 2.3 %

NASDAQ:VSTM opened at $6.82 on Friday. The company has a debt-to-equity ratio of 2.77, a current ratio of 3.23 and a quick ratio of 3.23. Verastem has a one year low of $2.10 and a one year high of $13.52. The company has a market cap of $303.54 million, a PE ratio of -2.14 and a beta of 0.60. The firm has a 50-day moving average of $6.00 and a 200-day moving average of $4.58.

Insider Activity at Verastem

In other news, CEO Dan Paterson sold 8,568 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $5.24, for a total value of $44,896.32. Following the transaction, the chief executive officer now owns 347,581 shares in the company, valued at $1,821,324.44. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have sold 9,988 shares of company stock valued at $53,608. 2.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

VSTM has been the subject of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Verastem in a report on Thursday, December 19th. B. Riley raised their target price on Verastem from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Mizuho boosted their price target on Verastem from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. BTIG Research raised their price objective on shares of Verastem from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, December 31st. Finally, Royal Bank of Canada boosted their target price on shares of Verastem from $13.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Verastem has a consensus rating of “Moderate Buy” and a consensus price target of $13.63.

About Verastem

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.