Verastem (VSTM) on 'Cutting Edge of Cancer'; Cantor Fitzgerald Starts at Buy

July 9, 2013 8:32 AM EDT
Get Alerts VSTM Hot Sheet
Price: $1.17 -1.68%

Rating Summary:
    9 Buy, 6 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Cantor Fitzgerald initiated coverage on Verastem (NASDAQ: VSTM) with a Buy rating and a price target of $22.00. Analyst Mara Goldstein believes the company as a cutting edge cancer.

"Verastem's scientific and executive founders are a virtual panoply of who's who in cancer stem cell (CSC) research and biotechnology management. While this is not a guarantee of clinical success, it does, in our view, provide a degree of de-risking," said Goldstein. "But it all boils down to a mix of candidates, company personnel, milestones and other catalysts that drive value into the shares, and we find Verastem to have a compelling mix."

Verastem will soon initiate a Phase II trial in VS-6063 for mesothelioma. In Goldstein view, VS-6063 could have applications in multiple tumor types.

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 $14.79 yesterday.

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