- Jefferies initiates coverage on Verastem (VSTM, Financial) with a "Buy" rating and a target price of $15.
- Potential FDA approval for Verastem's ovarian cancer treatment could enhance its market position.
- Analysts foresee a substantial upside with an average price target of $13.13, marking a 148.58% increase.
Jefferies' Bold Outlook on Verastem
Jefferies has taken a confident stance on Verastem Inc. (NASDAQ: VSTM) by initiating coverage with a "Buy" rating and setting an ambitious target price of $15. The focus is on the anticipated FDA approval for Verastem’s ovarian cancer treatment, a promising combination of avutometinib and defactinib. This innovation targets KRAS mutant low-grade serous ovarian cancer (LGSOC), presenting a significant opportunity to expand in the oncology market.
Wall Street's Perspective and Projections
According to projections from eight analysts, Verastem Inc. has an average one-year price target of $13.13. These estimates range from a low of $9.00 to a high of $20.00. From its current trading price of $5.28, this suggests a remarkable potential upside of 148.58%. Investors seeking detailed estimate data can visit the Verastem Inc (VSTM, Financial) Forecast page.
Brokerage Firms' Consensus
The consensus recommendation from nine brokerage firms places Verastem Inc. (VSTM, Financial) at an average rating of 1.7. This signifies an "Outperform" status, indicating optimism in the company's trajectory. The rating scale spans from 1 to 5, where 1 suggests a "Strong Buy" and 5 implies a "Sell."
With an eye on potential FDA approval and a promising market opportunity in LGSOC treatment, Verastem appears to be on a promising path according to both Jefferies and other Wall Street analysts. This positions the company as an intriguing option for investors seeking potential growth in the biotech sector.
