Verastem (VSTM) PT Lowered to $13 at Mizuho

Mizuho analyst Graig Suvannavejh lowered the price target on Verastem (NASDAQ: VSTM) to $13.00 (from $14.00) while maintaining a Outperform rating.

The analyst commented: "VSTM reported 2Q26 results last week, with Avmapki Fakzynja Co-Pack/AFC revenue of $25.1mn (+34% q/q) beating Mizuho/consensus of $23.4mn/$22.8mn — importantly marking a healthy rebound vs. a weak 1Q result that spooked investors and sent the stock tumbling. Beyond the strong AFC number, other key 2Q updates included: (1) a new $75mn royalty (i.e. non-dilutive) financing and also a surprise Copiktra-related $15mn sales milestone payment received from partner Secura Bio, helping to extend the cash runway into 2H27 (vs. prior 1H27); and (2) a refining to October (vs. prior 2H26) for a key P1/2 clinical data update for pipeline asset VS-7375, which is a potential best-in-class KRAS G12D (ON/OFF) inhibitor. Bigger picture, we leave 2Q results with our bullish thesis intact, and given renewed confidence in the AFC launch, and potentially positive Oct. '7375 data helping to re-rate the shares, we remain Outperform-rated on VSTM."

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