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

Verastem (NASDAQ:VSTM - Get Free Report) released its quarterly earnings results on Thursday. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.76) by ($0.57), Zacks reports.

Verastem Trading Up 3.5 %

Verastem stock traded up $0.23 during mid-day trading on Monday, hitting $6.88. 703,955 shares of the company's stock were exchanged, compared to its average volume of 913,647. Verastem has a fifty-two week low of $2.10 and a fifty-two 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 firm has a market capitalization of $306.21 million, a P/E ratio of -2.16 and a beta of 0.60. The company's 50 day simple moving average is $6.01 and its 200-day simple moving average is $4.64.

Analyst Ratings Changes

Several research firms have recently commented on VSTM. HC Wainwright increased their price target on shares of Verastem from $7.00 to $10.00 and gave the company a "buy" rating in a research note on Monday. B. Riley increased their price objective on Verastem from $7.00 to $9.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Mizuho boosted their target price on Verastem from $7.00 to $9.00 and gave the stock an "outperform" rating in a research report on Thursday, December 19th. Royal Bank of Canada decreased their price target on Verastem from $16.00 to $14.00 and set an "outperform" rating on the stock in a report on Friday. Finally, Guggenheim upped their target price on shares of Verastem from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Monday. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $13.88.

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Insiders Place Their Bets

In related news, CEO Dan Paterson sold 8,568 shares of the business'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 completion of the transaction, the chief executive officer now directly owns 347,581 shares in the company, valued at approximately $1,821,324.44. The trade was a 2.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 9,988 shares of company stock worth $53,608 over the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

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.