JonesTrading Reiterates Their Hold Rating on Verastem (VSTM)

JonesTrading analyst Matthew Cross reiterated a Hold rating on Verastem (VSTM) today. The company’s shares opened today at $1.38, close to its 52-week low of $1.16.

Cross observed:

“We maintain our HOLD rating. Pipeline expansion claims could see validation from combination and intermittent dosing data beginning in 2H:19. While Verastem’s commercial force attempts to drive Copiktra sales to meet new public benchmarks, R&D efforts to expand the pipeline considerably within 5 years continue in a few key Copiktra trials set to initiate or present data in 2H:19 and into 2020. The Phase 2 PRIMO study of Copiktra monotherapy in PTCL has recently shifted into the dose expansion phase, with data from the initial dose optimization phase now on track to read out later this year.”

According to, Cross is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -7.5% and a 33.7% success rate. Cross covers the Healthcare sector, focusing on stocks such as Aeglea Biotherapeutics Inc, Catalyst Biosciences Inc, and Actinium Pharmaceuticals.

Verastem has an analyst consensus of Moderate Buy, with a price target consensus of $4.63.

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The company has a one-year high of $10.35 and a one-year low of $1.16. Currently, Verastem has an average volume of 2.16M.

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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.

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