$3.49 Million in Sales Expected for Verastem Inc (NASDAQ:VSTM) This Quarter

Analysts predict that Verastem Inc (NASDAQ:VSTM) will announce $3.49 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Verastem’s earnings. The highest sales estimate is $4.21 million and the lowest is $2.76 million. Verastem posted sales of $15.51 million in the same quarter last year, which would indicate a negative year over year growth rate of 77.5%. The firm is scheduled to announce its next earnings report on Wednesday, November 6th.

According to Zacks, analysts expect that Verastem will report full year sales of $10.78 million for the current fiscal year, with estimates ranging from $7.54 million to $14.02 million. For the next financial year, analysts expect that the firm will report sales of $32.46 million, with estimates ranging from $29.22 million to $35.70 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Verastem.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.03). Verastem had a negative net margin of 526.42% and a negative return on equity of 118.53%. The firm had revenue of $3.14 million for the quarter, compared to the consensus estimate of $2.22 million.

Several equities analysts recently issued reports on the stock. Roth Capital cut their price target on shares of Verastem from $14.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, May 14th. Raymond James downgraded shares of Verastem from an “outperform” rating to a “market perform” rating in a research note on Friday, May 10th. ValuEngine raised shares of Verastem from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. HC Wainwright reaffirmed a “buy” rating and issued a $2.50 target price on shares of Verastem in a research note on Friday, May 10th. Finally, B. Riley set a $9.00 target price on shares of Verastem and gave the stock a “buy” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Verastem currently has a consensus rating of “Hold” and an average target price of $5.46.

VSTM stock remained flat at $$1.33 during trading on Wednesday. 2,104,663 shares of the company traded hands, compared to its average volume of 2,339,760. Verastem has a 12-month low of $1.16 and a 12-month high of $10.35. The firm has a market capitalization of $95.64 million, a PE ratio of -0.97 and a beta of 2.94. The business’s 50 day moving average is $1.41. The company has a current ratio of 6.16, a quick ratio of 6.15 and a debt-to-equity ratio of 2.79.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Verastem by 21.0% during the fourth quarter. BlackRock Inc. now owns 5,621,011 shares of the biopharmaceutical company’s stock worth $18,886,000 after buying an additional 976,123 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Verastem by 98.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,085,135 shares of the biopharmaceutical company’s stock valued at $3,646,000 after acquiring an additional 539,193 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Verastem in the fourth quarter valued at $35,000. Two Sigma Advisers LP raised its stake in shares of Verastem by 711.1% in the fourth quarter. Two Sigma Advisers LP now owns 256,300 shares of the biopharmaceutical company’s stock valued at $861,000 after acquiring an additional 224,700 shares in the last quarter. Finally, MML Investors Services LLC raised its stake in shares of Verastem by 70.0% in the fourth quarter. MML Investors Services LLC now owns 17,000 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 7,000 shares in the last quarter. 44.23% of the stock is owned by institutional investors.

Verastem Company Profile

Verastem, Inc, a biopharmaceutical company, focusing on developing and commercializing medicines to improve the survival and quality of life of cancer patients. It markets COPIKTRA (duvelisib), an oral inhibitor of phosphoinositide 3-kinase (PI3K) and dual inhibitor of PI3K-delta and PI3K-gamma, which is indicated for the treatment of adult patients with relapsed or refractory chronic lymphocytic leukemia/small lymphocytic lymphoma after at least two prior therapies and relapsed or refractory follicular lymphoma (FL) after at least two prior systemic therapies.

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Earnings History and Estimates for Verastem (NASDAQ:VSTM)

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