HC Wainwright Predicts Verastem FY2030 Earnings

Verastem, Inc. (NASDAQ:VSTM) – Equities researchers at HC Wainwright issued their FY2030 earnings per share estimates for Verastem in a research note issued on Wednesday, February 4th. HC Wainwright analyst A. Maldonado forecasts that the biopharmaceutical company will post earnings per share of $2.30 for the year. HC Wainwright currently has a “Buy” rating and a $18.00 price target on the stock. The consensus estimate for Verastem’s current full-year earnings is ($3.02) per share.

Verastem (NASDAQ:VSTM) last released its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($1.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.84). The business had revenue of $11.24 million during the quarter, compared to the consensus estimate of $5.76 million.

Several other research firms have also recently weighed in on VSTM. Royal Bank Of Canada set a $13.00 price target on shares of Verastem and gave the company an “outperform” rating in a research note on Monday, October 20th. Mizuho set a $15.00 price objective on Verastem in a report on Wednesday, October 29th. Cantor Fitzgerald raised Verastem to a “strong-buy” rating in a research note on Thursday, October 30th. Wall Street Zen lowered Verastem from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Guggenheim reiterated a “buy” rating on shares of Verastem in a report on Tuesday, December 30th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.83.

Verastem Price Performance

Verastem stock opened at $6.28 on Thursday. The company has a current ratio of 2.58, a quick ratio of 2.55 and a debt-to-equity ratio of 2.06. The company has a 50-day moving average price of $7.83 and a 200 day moving average price of $8.25. Verastem has a 12-month low of $4.01 and a 12-month high of $11.24. The stock has a market cap of $419.38 million, a P/E ratio of -1.56 and a beta of 0.41.

Insider Transactions at Verastem

In other news, CEO Dan Paterson sold 10,321 shares of the stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $7.16, for a total transaction of $73,898.36. Following the sale, the chief executive officer owned 400,104 shares of the company’s stock, valued at approximately $2,864,744.64. This represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul A. Bunn sold 6,250 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $10.00, for a total transaction of $62,500.00. Following the completion of the transaction, the director directly owned 2,083 shares of the company’s stock, valued at approximately $20,830. The trade was a 75.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 50,478 shares of company stock worth $462,045 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Verastem

A number of hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its stake in shares of Verastem by 9.8% in the second quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 1,440 shares in the last quarter. Aries Wealth Management raised its stake in shares of Verastem by 10.5% in the third quarter. Aries Wealth Management now owns 26,249 shares of the biopharmaceutical company’s stock valued at $232,000 after acquiring an additional 2,500 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Verastem by 182.9% in the third quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 2,960 shares during the period. BNP Paribas Financial Markets grew its stake in Verastem by 110.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 4,496 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Verastem by 28.8% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,945 shares of the biopharmaceutical company’s stock worth $124,000 after purchasing an additional 6,691 shares in the last quarter. 88.37% of the stock is currently owned by institutional investors and hedge funds.

About Verastem

Verastem Oncology, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small molecule therapies that target cancer stemness and resistance pathways. Established in 2010 and headquartered in Needham, Massachusetts, Verastem Oncology applies a precision-medicine approach to identify key signaling nodes responsible for tumor growth and relapse, with an emphasis on hematologic malignancies and solid tumors. The company’s research platform integrates insights into complex signaling networks to advance novel compounds from early discovery through clinical proof of concept.

The company’s lead marketed product is COPIKTRA (duvelisib), an oral inhibitor of PI3K-delta and PI3K-gamma, which received U.S.