B. Riley Has Bullish Outlook for Verastem FY2029 Earnings

Verastem, Inc. (NASDAQ:VSTM - Free Report) - B. Riley increased their FY2029 EPS estimates for Verastem in a research note issued to investors on Monday, April 28th. B. Riley analyst K. Patel now expects that the biopharmaceutical company will post earnings of $1.75 per share for the year, up from their previous forecast of $1.67. B. Riley has a "Buy" rating and a $9.00 price objective on the stock. The consensus estimate for Verastem's current full-year earnings is ($3.02) per share.

Verastem (NASDAQ:VSTM - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing analysts' consensus estimates of ($0.76) by ($0.57).

A number of other equities analysts have also issued reports on VSTM. StockNews.com lowered Verastem from a "hold" rating to a "sell" rating in a report on Friday, April 18th. Jefferies Financial Group initiated coverage on shares of Verastem in a research note on Thursday, April 10th. They set a "buy" rating and a $15.00 price objective on the stock. Mizuho cut their target price on Verastem from $9.00 to $8.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. HC Wainwright lifted their price target on Verastem from $7.00 to $10.00 and gave the company a "buy" rating in a research report on Monday, March 24th. Finally, Royal Bank of Canada dropped their price target on shares of Verastem from $16.00 to $14.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Verastem presently has an average rating of "Moderate Buy" and a consensus target price of $13.89.

Verastem Price Performance

NASDAQ VSTM remained flat at $7.43 on Wednesday. 575,831 shares of the company's stock traded hands, compared to its average volume of 1,033,597. The firm's 50 day simple moving average is $6.23 and its 200-day simple moving average is $5.32. Verastem has a 1 year low of $2.10 and a 1 year high of $13.52. The stock has a market cap of $382.57 million, a PE ratio of -2.33 and a beta of 0.57. The company has a debt-to-equity ratio of 2.77, a quick ratio of 3.23 and a current ratio of 3.23.

Institutional Investors Weigh In On Verastem

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its position in Verastem by 67.6% during the third quarter. Geode Capital Management LLC now owns 890,599 shares of the biopharmaceutical company's stock valued at $2,663,000 after buying an additional 359,060 shares during the period. Rhumbline Advisers increased its holdings in shares of Verastem by 38.0% in the 4th quarter. Rhumbline Advisers now owns 37,629 shares of the biopharmaceutical company's stock valued at $195,000 after purchasing an additional 10,352 shares during the period. Barclays PLC boosted its holdings in shares of Verastem by 546.7% during the third quarter. Barclays PLC now owns 55,708 shares of the biopharmaceutical company's stock worth $167,000 after purchasing an additional 47,094 shares during the period. JPMorgan Chase & Co. lifted its position in Verastem by 55.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,878 shares of the biopharmaceutical company's stock worth $50,000 after buying an additional 6,016 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Verastem by 18.2% during the 3rd quarter. State Street Corp now owns 424,264 shares of the biopharmaceutical company's stock valued at $1,269,000 after buying an additional 65,265 shares during the period. Hedge funds and other institutional investors own 88.37% of the company's stock.

Verastem Company Profile

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.