B. Riley Forecasts Verastem's FY2024 Earnings (NASDAQ:VSTM)

Verastem, Inc. (NASDAQ:VSTM - Free Report) - Stock analysts at B. Riley increased their FY2024 earnings per share estimates for shares of Verastem in a report issued on Monday, November 18th. B. Riley analyst K. Patel now anticipates that the biopharmaceutical company will post earnings per share of ($3.12) for the year, up from their prior estimate of ($3.43). B. Riley currently has a "Buy" rating and a $7.00 price target on the stock. 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.

Verastem (NASDAQ:VSTM - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, topping analysts' consensus estimates of ($0.71) by $0.11.

A number of other equities analysts have also issued reports on VSTM. Guggenheim initiated coverage on Verastem in a research note on Monday, September 30th. They issued a "buy" rating and a $13.00 target price for the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $13.00 target price on shares of Verastem in a report on Friday, October 18th. Truist Financial cut their price target on shares of Verastem from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Tuesday, August 13th. Cantor Fitzgerald restated an "overweight" rating on shares of Verastem in a research note on Friday, October 18th. Finally, StockNews.com cut Verastem from a "hold" rating to a "sell" rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to MarketBeat.com, Verastem currently has an average rating of "Moderate Buy" and a consensus price target of $14.57.

Verastem Trading Down 4.3 %

Shares of Verastem stock opened at $3.79 on Thursday. The firm's 50 day simple moving average is $3.28 and its two-hundred day simple moving average is $3.96. Verastem has a 12-month low of $2.10 and a 12-month high of $14.22. The company has a debt-to-equity ratio of 2.77, a quick ratio of 3.23 and a current ratio of 3.23.

Institutional Investors Weigh In On Verastem

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Apollon Wealth Management LLC raised its holdings in shares of Verastem by 104.6% during the 3rd quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company's stock worth $61,000 after acquiring an additional 10,457 shares during the period. Vanguard Group Inc. increased its position in Verastem by 0.9% during the first quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company's stock worth $13,699,000 after purchasing an additional 10,678 shares during the last quarter. Stifel Financial Corp raised its stake in Verastem by 62.3% during the third quarter. Stifel Financial Corp now owns 30,339 shares of the biopharmaceutical company's stock worth $91,000 after purchasing an additional 11,642 shares during the period. FMR LLC acquired a new position in Verastem in the 3rd quarter valued at about $41,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Verastem in the 3rd quarter valued at approximately $43,000. Institutional investors and hedge funds own 88.37% of the company's stock.

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.

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