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Verastem’s Promising Clinical Advances and Strategic Developments Justify Buy Rating

Verastem’s Promising Clinical Advances and Strategic Developments Justify Buy Rating

H.C. Wainwright analyst Sean Lee CFA has reiterated their bullish stance on VSTM stock, giving a Buy rating on May 23.

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Sean Lee CFA has given his Buy rating due to a combination of factors including promising clinical trial results and strategic developments by Verastem. The company presented encouraging data from their Phase 1 RAMP 205 study, which showed a significant response rate in patients with metastatic pancreatic cancer when treated with a combination of avutometinib, defactinib, and standard chemotherapy. This combination therapy demonstrated a higher partial response rate compared to historical data, suggesting a potential breakthrough in treatment efficacy.
Additionally, Verastem’s partner, GenFleet Therapeutics, reported positive initial results from their study of the KRAS G12D inhibitor, VS-7375, which showed effectiveness in treating advanced solid tumors, including non-small cell lung cancer and pancreatic cancer. The safety profile of VS-7375 was also favorable, with manageable adverse events and no dose-limiting toxicity observed. These promising developments, along with a strategic plan to expand clinical trials and a well-supported valuation model, underpin the Buy rating and the price target of $14.00 per share.

In another report released on May 23, Mizuho Securities also reiterated a Buy rating on the stock with a $16.00 price target.

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