Verastem (NASDAQ:VSTM) Issues Earnings Results

by · The Markets Daily

Verastem (NASDAQ:VSTM – Get Free Report) released its earnings results on Wednesday. The biopharmaceutical company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.01, FiscalAI reports. The company had revenue of $17.54 million during the quarter, compared to the consensus estimate of $16.85 million.

Verastem Trading Up 2.3%

VSTM stock traded up $0.13 during midday trading on Wednesday, reaching $5.81. 2,326,910 shares of the company traded hands, compared to its average volume of 1,790,534. The firm has a market capitalization of $387.99 million, a price-to-earnings ratio of -1.44 and a beta of 0.40. The company has a debt-to-equity ratio of 2.06, a quick ratio of 2.55 and a current ratio of 2.58. The business has a 50 day moving average of $6.61 and a 200-day moving average of $8.22. Verastem has a 52-week low of $4.01 and a 52-week high of $11.24.

Insiders Place Their Bets

In other Verastem news, CEO Dan Paterson sold 10,321 shares of the stock in a transaction on Monday, January 12th. The stock was sold at an average price of $7.16, for a total value of $73,898.36. Following the sale, the chief executive officer owned 400,104 shares in the company, valued at $2,864,744.64. This trade represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Daniel Calkins sold 5,039 shares of the business’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $7.16, for a total transaction of $36,079.24. Following the sale, the chief financial officer directly owned 104,719 shares of the company’s stock, valued at $749,788.04. This represents a 4.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,678 shares of company stock worth $191,045 in the last quarter. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Verastem

A number of large investors have recently bought and sold shares of the business. XTX Topco Ltd increased its holdings in shares of Verastem by 168.1% during the 4th quarter. XTX Topco Ltd now owns 131,121 shares of the biopharmaceutical company’s stock valued at $1,012,000 after purchasing an additional 82,210 shares in the last quarter. Ikarian Capital LLC purchased a new position in Verastem in the fourth quarter valued at $1,651,000. VARCOV Co. purchased a new stake in shares of Verastem during the 4th quarter worth about $261,000. Virtus Investment Advisers LLC acquired a new stake in shares of Verastem during the 4th quarter valued at about $214,000. Finally, Tang Capital Management LLC grew its position in shares of Verastem by 35.5% during the 4th quarter. Tang Capital Management LLC now owns 1,069,810 shares of the biopharmaceutical company’s stock valued at $8,259,000 after acquiring an additional 280,000 shares during the period. Institutional investors own 88.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Verastem in a research report on Wednesday, January 21st. HC Wainwright assumed coverage on Verastem in a research report on Wednesday, February 4th. They set a “buy” rating and a $18.00 price objective on the stock. Guggenheim reissued a “buy” rating on shares of Verastem in a report on Tuesday, December 30th. Wall Street Zen lowered shares of Verastem from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Mizuho set a $18.00 price objective on shares of Verastem in a research note on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.33.

Check Out Our Latest Research Report on Verastem

Verastem Company Profile

(Get Free Report)

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.

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