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

Verastem (NASDAQ:VSTM - Get Free Report) 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 Price Performance

Shares of VSTM stock traded up $0.23 on Monday, hitting $6.88. 703,955 shares of the company's stock were exchanged, compared to its average volume of 913,647. The company has a 50 day moving average of $6.01 and a 200 day moving average of $4.64. The stock has a market cap of $306.21 million, a P/E ratio of -2.16 and a beta of 0.60. 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 12 month low of $2.10 and a 12 month high of $13.52.

Insider Buying and Selling 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 shares were sold at an average price of $5.24, for a total value of $44,896.32. Following the sale, the chief executive officer now directly owns 347,581 shares in the company, valued at approximately $1,821,324.44. This trade represents a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 9,988 shares of company stock worth $53,608 over the last 90 days. Insiders own 2.20% of the company's stock.

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Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. BTIG Research lifted their price objective on shares of Verastem from $13.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, December 31st. B. Riley lifted their price target on shares of Verastem from $7.00 to $9.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Royal Bank of Canada reduced their price target on Verastem from $16.00 to $14.00 and set an "outperform" rating on the stock in a research report on Friday. Guggenheim lifted their price objective on Verastem from $13.00 to $14.00 and gave the company a "buy" rating in a report on Monday. Finally, HC Wainwright increased their target price on Verastem from $7.00 to $10.00 and gave the stock a "buy" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Verastem currently has a consensus rating of "Moderate Buy" and an average target price of $13.88.

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.