BTIG analyst Jeet Mukherjee has maintained their bullish stance on VSTM stock, giving a Buy rating today.
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Jeet Mukherjee has given his Buy rating due to a combination of factors that highlight Verastem’s promising position in the market. The recent accelerated approval of their combination therapy, AVMAPKI FAKZYNJA, for KRAS mutant LGSOC, positions Verastem as a commercial-stage company in a niche with significant unmet needs. This approval opens up a substantial market opportunity, estimated at over $1.5 billion, given the therapy’s potential duration of over a year.
Furthermore, the company’s pricing strategy for the therapy aligns with similar treatments in rare oncology indications, and their extensive payor research supports this pricing. The targeted patient population is well-defined, with a concentrated number of patients in specific medical sites, making it manageable for Verastem’s sales force. Additionally, there is growing awareness and positive perception of the therapy’s efficacy and safety among key opinion leaders and patients, which bodes well for its commercial launch. Verastem’s proactive steps towards inclusion in NCCN guidelines and ongoing regulatory discussions in international markets further reinforce the potential for growth and adoption of their therapy.
In another report released today, Mizuho Securities also maintained a Buy rating on the stock with a $16.00 price target.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VSTM in relation to earlier this year.