Verastem (VSTM – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Sean Lee CFA from H.C. Wainwright maintained a Buy rating on the stock and has a $14.00 price target.
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Sean Lee CFA has given his Buy rating due to a combination of factors including Verastem’s strategic focus on the commercialization of Avmapki Fakzynja for low-grade serous ovarian cancer (LGSOC). The recent accelerated approval by the FDA for this treatment combination highlights the company’s potential to capture a significant market share. The availability of Avmapki Fakzynja through a specialized distribution network in the U.S. and its submission to the National Comprehensive Cancer Network for inclusion in treatment guidelines further bolster its commercial prospects.
Additionally, Verastem’s ongoing clinical developments, such as the investigation of Avmapki Fakzynja for pancreatic cancer, demonstrate a robust pipeline that could lead to future growth. The company’s financial position, with sufficient cash reserves to fund operations, adds to the confidence in its ability to execute its strategic plans. The support programs like Verastem Cares and co-pay assistance initiatives also enhance patient access, potentially driving higher adoption rates of their therapies.
Lee CFA covers the Healthcare sector, focusing on stocks such as Alphatec Holdings, Verastem, and Cytosorbents. According to TipRanks, Lee CFA has an average return of -3.3% and a 31.02% success rate on recommended stocks.
In another report released yesterday, RBC Capital also maintained a Buy rating on the stock with a $16.00 price target.