Verastem, Inc. (VSTM) Announces Quarterly Earnings Results, Misses Expectations By $0.02 EPS
Verastem, Inc. (NASDAQ:VSTM) released its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.34) by $0.02, Bloomberg Earnings reports.
Verastem (VSTM) traded down 8.056% during mid-day trading on Wednesday, reaching $3.595. 914,156 shares of the company traded hands. The stock’s market capitalization is $132.99 million. Verastem has a 52-week low of $1.05 and a 52-week high of $4.67. The firm’s 50-day moving average is $3.12 and its 200 day moving average is $2.07.
VSTM has been the subject of several research reports. Zacks Investment Research upgraded shares of Verastem from a “hold” rating to a “buy” rating and set a $3.75 price target for the company in a research report on Thursday, July 13th. Cantor Fitzgerald reiterated a “hold” rating and issued a $2.00 price target on shares of Verastem in a research report on Thursday, June 8th. Oppenheimer Holdings, Inc. set a $6.00 price target on shares of Verastem and gave the company a “buy” rating in a research report on Wednesday, May 10th. Jefferies Group LLC reiterated a “hold” rating and issued a $1.50 price target on shares of Verastem in a research report on Wednesday, June 28th. Finally, Cann reiterated a “buy” rating and issued a $6.00 price target on shares of Verastem in a research report on Monday, June 26th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $4.54.
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In other news, Director Timothy J. Barberich acquired 30,000 shares of Verastem stock in a transaction that occurred on Monday, May 15th. The shares were purchased at an average cost of $2.45 per share, for a total transaction of $73,500.00. Following the completion of the purchase, the director now directly owns 69,462 shares of the company’s stock, valued at approximately $170,181.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.00% of the company’s stock.
Verastem, Inc is a biopharmaceutical company. The Company is focused on discovering and developing drugs to improve outcomes for patients with cancer. The Company operates in the segment of developing drugs for the treatment of cancer. The Company’s advanced product candidates are VS 6063, VS 4718 and VS 5584.
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