Jefferies Starts Verastem (VSTM) at Buy

Jefferies analyst Kelly Shi initiates coverage on Verastem (NASDAQ: VSTM) with a Buy rating and a price target of $15.00.

The analyst comments: "Verastem is a late clinical-stage biopharma focused on targeting cancers associated with the RAS/MAPK signaling pathway. The company's lead programs, avutometinib (RAF/MEK clamp) and defactinib (FAK inhibitor), could be the first FDA-approved therapy for a rare type of ovarian cancer LGSOC upon PDUFA on 06/30/25. Our KOL feedback suggests strong adoption enthusiasm regardless of patients' KRAS mutation status, while we think the street only priced in the oppy in KRASm patients (~30% of all LGSOC). Other upsides include oppy in G12Cm NSCLC and 1L PDAC, as well as GenFleet collaboration led by G12D ON/OFF inhibitor. We like the risk/reward for VSTM with visibility of near-term approval in an underserved market. Initiate at BUY."

For an analyst ratings summary and ratings history on Verastem click here. For more ratings news on Verastem click here.

Shares of Verastem closed at $5.28 yesterday.

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