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Verastem price target lowered to $12 from $16 at RBC Capital

RBC Capital lowered the firm’s price target on Verastem (VSTM) to $12 from $16 and keeps an Outperform rating on the shares. The firm is updating its model after the approval of Av-Fak, ASCO data for Av-Fak in PDAC, and data from partnered G12D, the analyst tells investors in a research note. RBC adds that it sees significant upside in the pipeline, with potential for label expansions into PDAC or NSCLC.

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