Key Points
- Verastem CEO Dan Paterson sold 44,121 shares at an average price of $8.00, totaling $352,968. The transaction was made under a pre-arranged Rule 10b5-1 plan and reduced his direct ownership by 6.33% to 652,712 shares.
- Verastem reported quarterly EPS of -$0.35, beating the analyst consensus of -$0.43, while revenue of $40.08 million exceeded expectations of $22.88 million. Despite the earnings beat, the company continues to report substantial net losses.
- Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $13.83 versus the stock’s $7.70 opening price. Institutional investors own approximately 88.37% of Verastem’s shares.
Verastem, Inc. (NASDAQ:VSTM - Get Free Report) CFO Daniel Calkins sold 2,566 shares of the business's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $8.00, for a total value of $20,528.00. Following the completion of the sale, the chief financial officer directly owned 123,781 shares of the company's stock, valued at approximately $990,248. This represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Daniel Calkins also recently made the following trade(s):
- On Monday, September 21st, Daniel Calkins sold 55 shares of Verastem stock. The shares were sold at an average price of $7.70, for a total value of $423.50.
Verastem Trading Down 2.5%
NASDAQ:VSTM opened at $7.70 on Friday. The company has a quick ratio of 2.22, a current ratio of 2.25 and a debt-to-equity ratio of 1.48. The business's 50 day moving average is $7.21 and its two-hundred day moving average is $5.76. Verastem, Inc. has a 52 week low of $3.43 and a 52 week high of $10.82. The company has a market cap of $697.31 million, a PE ratio of -2.89 and a beta of 0.39.
Verastem (NASDAQ:VSTM - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, beating analysts' consensus estimates of ($0.43) by $0.08. The business had revenue of $40.08 million during the quarter, compared to the consensus estimate of $22.88 million. Verastem had a negative return on equity of 467.49% and a negative net margin of 231.59%. On average, analysts predict that Verastem, Inc. will post -1.56 EPS for the current year.
Institutional Trading of Verastem
Several hedge funds have recently made changes to their positions in the stock. AIGH Capital Management LLC acquired a new position in Verastem during the 1st quarter valued at approximately $10,600,000. Opaleye Management Inc. acquired a new stake in Verastem in the second quarter worth $6,876,000. Armistice Capital LLC lifted its stake in Verastem by 68.7% in the fourth quarter. Armistice Capital LLC now owns 3,536,000 shares of the biopharmaceutical company's stock valued at $27,298,000 after buying an additional 1,440,000 shares during the last quarter. NEXTBio Capital Management LP bought a new stake in Verastem in the fourth quarter valued at $10,093,000. Finally, Foresite Capital Management VI LLC lifted its stake in Verastem by 19.9% in the fourth quarter. Foresite Capital Management VI LLC now owns 3,135,120 shares of the biopharmaceutical company's stock valued at $24,203,000 after buying an additional 520,000 shares during the last quarter. Institutional investors own 88.37% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on VSTM. Wall Street Zen upgraded shares of Verastem from a "sell" rating to a "hold" rating in a research note on Sunday, September 27th. HC Wainwright restated a "buy" rating and issued a $18.00 price target on shares of Verastem in a research report on Friday, September 11th. Jefferies Financial Group decreased their price target on shares of Verastem from $15.00 to $8.00 and set a "buy" rating for the company in a report on Tuesday, June 23rd. Weiss Ratings raised shares of Verastem from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, September 4th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Verastem in a research report on Monday. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Verastem has a consensus rating of "Moderate Buy" and an average price target of $13.83.
Read Our Latest Stock Analysis on VSTM
About Verastem
(
Get Free Report)
Verastem Oncology (NASDAQ:VSTM) is a biopharmaceutical company focused on developing and commercializing targeted therapies for cancers driven by abnormalities in the RAS/MAPK signaling pathway. The company's research is aimed at addressing cancers with limited treatment options, including ovarian cancer and other solid tumors.
Verastem's lead product, avutometinib, is a treatment targeting the RAF/MEK signaling pathway and is marketed in the United States under the brand name Avmapki for certain patients with recurrent low-grade serous ovarian cancer.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
