B. Riley Estimates Verastem’s FY2024 Earnings (NASDAQ:VSTM)

Verastem, Inc. (NASDAQ:VSTM) – Research analysts at B. Riley lifted their FY2024 earnings estimates for shares of Verastem in a research report issued to clients and investors on Monday, November 18th. B. Riley analyst K. Patel now expects that the biopharmaceutical company will earn ($3.12) per share for the year, up from their previous forecast of ($3.43). The consensus estimate for Verastem’s current full-year earnings is ($3.24) per share. B. Riley also issued estimates for Verastem’s Q4 2024 earnings at ($0.86) EPS, FY2025 earnings at ($2.51) EPS, FY2026 earnings at ($1.39) EPS, FY2027 earnings at $0.13 EPS and FY2028 earnings at $1.38 EPS.

VSTM has been the topic of several other reports. Cantor Fitzgerald restated an “overweight” rating on shares of Verastem in a research report on Friday, October 18th. Guggenheim started coverage on shares of Verastem in a report on Monday, September 30th. They set a “buy” rating and a $13.00 price objective for the company. Truist Financial reduced their price objective on shares of Verastem from $18.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. StockNews.com downgraded shares of Verastem from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Verastem in a report on Friday, October 18th. One analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Verastem currently has an average rating of “Moderate Buy” and an average price target of $12.50.

Verastem Stock Performance

NASDAQ VSTM opened at $3.93 on Thursday. The company has a debt-to-equity ratio of 2.77, a current ratio of 3.23 and a quick ratio of 3.23. The firm has a market capitalization of $174.92 million, a price-to-earnings ratio of -1.23 and a beta of 0.14. The company’s fifty day moving average is $3.30 and its two-hundred day moving average is $3.96. Verastem has a 52-week low of $2.10 and a 52-week high of $14.22.

Verastem (NASDAQ:VSTM) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.11.

Institutional Investors Weigh In On Verastem

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC acquired a new stake in Verastem in the 3rd quarter valued at about $41,000. SG Americas Securities LLC acquired a new stake in shares of Verastem during the 3rd quarter worth approximately $43,000. Apollon Wealth Management LLC grew its position in shares of Verastem by 104.6% during the 3rd quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock worth $61,000 after buying an additional 10,457 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Verastem during the 2nd quarter worth approximately $82,000. Finally, Rhumbline Advisers grew its position in shares of Verastem by 4,172.0% during the 2nd quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock worth $86,000 after buying an additional 28,119 shares during the period. Institutional investors and hedge funds own 88.37% of the company’s stock.

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.