Sean Lee CFA, an analyst from H.C. Wainwright, maintained the Buy rating on Verastem (VSTM – Research Report). The associated price target is $10.00.
Sean Lee CFA has given his Buy rating due to a combination of factors including Verastem’s promising financial outlook and strategic advancements in their lead program. The company has reported higher-than-expected licensing revenues and maintains a strong cash position, which is projected to support their operations effectively.
Furthermore, Verastem’s lead program, the avutometinib plus defactinib combination for LGSOC, is under FDA review for accelerated approval, with a decision expected by mid-2025. The company is proactively preparing for the commercial launch, targeting key treatment centers, which could significantly boost their market reach. Additionally, the initiation of a Phase 3 confirmatory study and potential updates from their pancreatic cancer and KRAS G12D programs further enhance the company’s growth prospects. These developments have led to an increased revenue projection and a higher price target for the stock.
In another report released on March 21, BTIG also reiterated a Buy rating on the stock with a $20.00 price target.