Oppenheimer Starts Verastem (VSTM) at Outperform, Positive on Targeting Cancer Stem Cells Therapy
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Price: $9.84 -3.81%
Rating Summary:
15 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
15 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Oppenheimer initiates coverage on recent IPO Verastem (NASDAQ: VSTM) with a Outperform. PT $16.00.
The firm said there is growing evidence that cancer stem cell targeted therapies (CSCs) have a key role in tumor initiation/metastasis. VSTM expects to advance Wnt pathway inhibitor VS-507 and a FAK inhibitor (VS-4718/VS-5095) into ph.I by 1Q13.
Oppenheimer believes these compounds have broad anticancer potential, based on preclinical results and compelling biological rationale. "VSTM first plans to pursue triple negative breast cancer (TNBC), which we believe is a substantially underserved, multi-billion dollar market," the analyst said.
"We believe VSTM is an attractive long-term investment and expect the stock to appreciate as clinical progress and high-profile scientific publications further underscore the importance of CSCs."
Oppenheimer was co-manager of the January 2012 IPO.
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 $11.10 yesterday.
The firm said there is growing evidence that cancer stem cell targeted therapies (CSCs) have a key role in tumor initiation/metastasis. VSTM expects to advance Wnt pathway inhibitor VS-507 and a FAK inhibitor (VS-4718/VS-5095) into ph.I by 1Q13.
Oppenheimer believes these compounds have broad anticancer potential, based on preclinical results and compelling biological rationale. "VSTM first plans to pursue triple negative breast cancer (TNBC), which we believe is a substantially underserved, multi-billion dollar market," the analyst said.
"We believe VSTM is an attractive long-term investment and expect the stock to appreciate as clinical progress and high-profile scientific publications further underscore the importance of CSCs."
Oppenheimer was co-manager of the January 2012 IPO.
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 $11.10 yesterday.
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