Verastem price target lowered to $14 from $16 at RBC Capital

RBC Capital analyst Gregory Renza lowered the firm’s price target on Verastem (VSTM) to $14 from $16 and keeps an Outperform rating on the shares. The highlight of the company’s Q4 report was avuto’s priority review that has a June 30th PDUFA date and its potential U.S. launch in LGSOC in mid-2025, which marks a “significant inflection point”, the analyst tells investors in a research note. RBC adds however that it is reducing its price target to reflect the dilution from the stock offering.