Roth Capital Reiterates a Hold Rating on Verastem

By Austin Angelo

In a report released today, Joseph Pantginis from Roth Capital reiterated a Hold rating on Verastem (NASDAQ: VSTM), with a price target of $2. The company’s shares opened today at $1.17, close to its 52-week low of $1.05.

Pantginis said:

“We maintain our Neutral rating and $2 price target. Event VSTM announced 3Q16 results, posting EPS of ($0.21), versus our and consensus of ($0.24). The company ended the quarter with $86.9 million in cash, which management believes funds operations into 2018. Recently the company also inlicensed duvelisib (PI3K inhibitor) from Infinity (INFI-NC). VSTM will be taking over the costs for ongoing studies, however no upfront payment was associated with the transaction but the following milestones could be due: 1) $6 million for the upcoming DUO study, and 2) $22 million for the first regulatory approval.”

According to, Pantginis is ranked 0 out of 5 stars with an average return of -14.6% and a 30.2% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, Inc., Applied Genetic Technologies, and ImmunoCellular Therapeutics.

Verastem has an analyst consensus of Moderate Buy.

The company has a one year high of $2.43 and a one year low of $1.05. Currently, Verastem has an average volume of 183.7K.

Verastem, Inc. is a clinical biopharmaceutical company, which is focused on discovering and developing drugs to treat cancer by the targeted killing of cancer stem cells. The company is developing small molecule inhibitors of signaling pathways which includes Focal Adhesion Kinase FAK, PI3K/mTOR and Wnt that are critical to cancer stem cell survival and proliferation. Verastem was founded by Richard H. Aldrich, Michelle Dipp, Piyush Gupta, Satish Jindal, Eric S. Lander, Robert F. Weinberg and Christoph H. Westphal on August 4, 2010 and is headquartered in Cambridge, MA.