“We rate VSTM Overweight. With the pending PDUFA in early October, the near- and long-term picture for the shares looks bright, in our view. The Street has been struggling with the commercial potential for duvelisib, which we believe is larger than the current valuation suggests. Valuation Summary Our price target is $17 and is based on a risk-adjusted 5x multiple of 2022 sales forecast of $423 million for duvelisib, with a discount rate of 25%.”
According to TipRanks.com, Goldstein is a 2-star analyst with an average return of 0.5% and a 40.1% success rate. Goldstein covers the Healthcare sector, focusing on stocks such as Karyopharm Therapeutics, CytomX Therapeutics Inc, and Genocea Biosciences.
Currently, the analyst consensus on Verastem is Strong Buy and the average price target is $14.60, representing a 161.6% upside.
In a report issued on June 6, H.C. Wainwright also maintained a Buy rating on the stock with a $10 price target.
The company has a one-year high of $6.43 and a one-year low of $1.92. Currently, Verastem has an average volume of 1.43M.
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Verastem, Inc. is a biopharmaceutical company, which engages in the development and commercialization of drugs to treat cancer by the targeted killing of cancer stem cells. Its product candidates include duvelisib, which targets the Phosphoinositide 3-kinase signaling pathway; and defactinib, a targeted inhibitor of the Focal Adhesion Kinase signaling pathway. It evaluates these compounds in both preclinical and clinical studies as potential therapies for certain cancers, including leukemia, lymphoma, lung cancer, ovarian cancer, mesothelioma, and pancreatic cancer. 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 Cambridge, MA.