Verastem (NASDAQ:VSTM) Posts Quarterly Earnings Results, Misses Estimates By $0.57 EPS

Verastem (NASDAQ:VSTM) released its earnings results 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 Price Performance

VSTM stock opened at $6.65 on Friday. Verastem has a 52-week low of $2.10 and a 52-week high of $13.52. 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 business has a fifty day moving average of $6.01 and a two-hundred day moving average of $4.61. The stock has a market cap of $295.97 million, a price-to-earnings ratio of -2.08 and a beta of 0.60.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on VSTM shares. Guggenheim restated a “buy” rating on shares of Verastem in a research report on Friday, January 24th. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Verastem in a research report on Thursday, December 19th. BTIG Research raised their target price on Verastem from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, December 31st. Mizuho increased their price target on Verastem from $7.00 to $9.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, Royal Bank of Canada cut their price target on Verastem from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat.com, Verastem has an average rating of “Moderate Buy” and an average price target of $13.38.

Insider Activity

In other news, CEO Dan Paterson sold 8,568 shares of Verastem stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 347,581 shares of the company’s stock, valued at approximately $1,821,324.44. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 9,988 shares of company stock valued at $53,608. 2.20% of the stock is currently owned by corporate insiders.

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.