Breaking Finance News

Verastem Initiated at a Buy Citing Cancer Research Potential

On Monday, Jefferies began coverage on Verastem (NASDAQ: VSTM) with a “Buy” rating and placed a $21.00 price target on the stock. The reported stated:

“VSTM’s R&D focus is the development of drugs targeting cancer stem cells. VSTM will begin a registration-directed PII trial for its lead candidate, VS-6063 (FAK inhibitor), in mesothelioma that we believe has favorable odds of showing a PFS benefit, supporting potential accelerated approval in H2’16. We are initiating coverage of VSTM with a Buy and $21 PT.”

This follows a recent secondary offering by the company. Read about it here.

[stock-tools exchange="NASDAQ" symbol="VSTM" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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