Verastem's Ovarian Cancer Drug Showing Promise, Analyst Upgrades Stock
Portfolio Pulse from Vandana Singh
Mizuho Securities has upgraded Verastem Inc (NASDAQ:VSTM) from Neutral to Buy with a price target of $36, up from $24, based on additional data from ASCO. The data supports plans to secure accelerated approval for avutometinib + defactinib in low-grade serous ovarian cancer (LGSOC).
June 15, 2023 | 6:03 pm
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Mizuho Securities upgrades Verastem Inc (VSTM) to Buy with a $36 price target based on promising data for its ovarian cancer drug.
The upgrade from Mizuho Securities is based on additional data from ASCO, which supports plans to secure accelerated approval for avutometinib + defactinib in LGSOC. This positive news is likely to have a short-term positive impact on VSTM's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100