Verastem (NASDAQ:VSTM) Announces Quarterly Earnings Results

Verastem (NASDAQ:VSTM) 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 Price Performance

NASDAQ:VSTM traded down $0.17 on Thursday, reaching $6.81. 426,756 shares of the company’s stock traded hands, compared to its average volume of 907,561. The firm has a market cap of $303.05 million, a PE ratio of -2.13 and a beta of 0.60. 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 stock has a 50-day simple moving average of $5.98 and a 200-day simple moving average of $4.57. Verastem has a 12 month low of $2.10 and a 12 month high of $13.52.

Insider Transactions at Verastem

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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 10,053 shares of company stock valued at $53,890 over the last 90 days. Company insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. 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 report on Tuesday, December 31st. B. Riley lifted their price target on shares of Verastem from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Mizuho upped their price objective on Verastem from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Guggenheim reaffirmed a “buy” rating on shares of Verastem in a report on Friday, January 24th. Finally, HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Verastem in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average 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.