Jefferies analyst Kelly Shi has boosted the price target for Verastem (VSTM, Financial) to $19 from the previous $15 while maintaining a Buy rating on the company's stock. This follows the FDA's approval of Verastem's avutometinib with defactinib combination, which came over a month before the anticipated PDUFA deadline of June 30. This approval marks the first treatment sanctioned for the rare ovarian cancer type, KRAS mutant low-grade serous ovarian cancer (LGSOC). The analyst highlighted positive feedback from physicians, indicating a strong eagerness to adopt the new therapy. The firm estimates the potential U.S. market opportunity for this treatment at $402 million for this specific cancer mutation.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 8 analysts, the average target price for Verastem Inc (VSTM, Financial) is $13.38 with a high estimate of $20.00 and a low estimate of $8.00. The average target implies an upside of 94.97% from the current price of $6.86. More detailed estimate data can be found on the Verastem Inc (VSTM) Forecast page.
Based on the consensus recommendation from 9 brokerage firms, Verastem Inc's (VSTM, Financial) average brokerage recommendation is currently 1.7, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
