Verastem (VSTM) PT Lowered to $14 at Mizuho

Mizuho analyst Graig Suvannavejh lowered the price target on Verastem (NASDAQ: VSTM) to $14.00 (from $16.00) while maintaining a Outperform rating.

The analyst commented: "VSTM reported 2Q25 results last week, where key takeaways, in our view, were: (1) a revenue beat for recently launched Avmapki Fakzynja Co-pack/AFC; (2) already, reimbursement for AFC use off-label in patients who are KRAS-wild-type; (3) an October review for AFC's potential inclusion in NCCN guidelines; and (4) all other pipeline programs (e.g., avutometinib and defactinib/A+D in non-small cell lung cancer/NSCLC and pancreatic ductal adenocarcinoma/PDAC; also VS-7375, a KRAS G12D ON/OFF inhibitor) remaining on track. On model updates, we lower our PT $14 (vs. $16 prior), primarily due to dilution from an April financing (LINK), but bigger picture, we continue to like the VSTM setup (especially given positivity seen the initial AFC launch), and with favorable risk/reward, and a myriad of other pipeline opportunities not yet factored in our model (thus offering upside potential), we stay Outperform-rated on VSTM."

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