Verastem (VSTM) Received its Third Buy in a Row


After Roth Capital and H.C. Wainwright gave Verastem (NASDAQ: VSTM) a Buy rating last month, the company received another Buy, this time from Raymond James. Analyst Reni Benjamin maintained a Buy rating on Verastem today and set a price target of $6. The company’s shares opened today at $3.28, close to its 52-week low of $2.61.

According to TipRanks.com, Benjamin is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -7.4% and a 33.1% success rate. Benjamin covers the Healthcare sector, focusing on stocks such as Spark Therapeutics, Urogen Pharma Ltd, and Incyte Corp.

Verastem has an analyst consensus of Moderate Buy, with a price target consensus of $12, representing a 265.9% upside. In a report released yesterday, Roth Capital also maintained a Buy rating on the stock with a $14 price target.

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The company has a one-year high of $10.35 and a one-year low of $2.61. Currently, Verastem has an average volume of 2.57M.

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Verastem, Inc. is a commercial-stage company focused on the discovery, development, and commercialization of drugs to aid patients suffering from cancer. Its product candidates include COPIKTR (duvelisib), a treatment of adult patients with relapsed or refractory chronic lymphocytic leukemia or small lymphocytic lymphoma after at least two prior therapies and relapsed or refractory follicular lymphoma after at least two prior systemic therapies. Its pipeline candidate defactinib, is a focal adhesion kinase inhibitor in development for the treatment of cancers where there are limited treatment options including lung, ovarian, lymphoma, pancreatic and other advanced cancers. 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.

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