Verastem (VSTM) Gets a Buy Rating from Alliance Global Partners

By Carrie Williams

In a report released today, Matthew Cross from Alliance Global Partners maintained a Buy rating on Verastem (VSTMResearch Report), with a price target of $6.00. The company’s shares closed last Monday at $3.21.

According to TipRanks.com, Cross is a 4-star analyst with an average return of 9.8% and a 36.6% success rate. Cross covers the Healthcare sector, focusing on stocks such as TRACON Pharmaceuticals, Syros Pharmaceuticals, and Aldeyra Therapeutics.

Currently, the analyst consensus on Verastem is a Strong Buy with an average price target of $6.33, representing a 95.4% upside. In a report issued on July 20, H.C. Wainwright also reiterated a Buy rating on the stock with a $5.00 price target.

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The company has a one-year high of $4.94 and a one-year low of $1.08. Currently, Verastem has an average volume of 2.68M.

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Verastem, Inc., operating as Verastem Oncology, is a biopharmaceutical company focusing on developing and commercializing medicines to improve the survival and quality of life of cancer patients. It markets COPIKTRA™ (duvelisib), an oral inhibitor of phosphoinositide 3-kinase (PI3K) and dual inhibitor of PI3K-delta and PI3K-gamma, which is indicated for the treatment of adult patients with relapsed or refractory chronic lymphocytic leukemia/small lymphocytic lymphoma after at least two prior therapies and relapsed or refractory follicular lymphoma (FL) after at least two prior systemic therapies. The indication in FL is approved under accelerated approval based on overall response rate. In addition, it is developing the focal adhesion kinase inhibitor defactinib, which is being evaluated in three separate clinical collaborations in combination with immunotherapeutic agents for the treatment of various different cancer types, including pancreatic cancer, ovarian cancer, non-small cell lung cancer (NSCLC), and mesothelioma. Verastem, Inc. has collaboration agreements with Yakult Honsha Co., Ltd., CSPS Pharmaceutical Group Limited and The Leukemia & Lymphoma Society. The company 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 Needham, MA.