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Investment analysts at Cantor Fitzgerald assumed coverage on shares of Verastem (NASDAQ: VSTM) in a note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $22.00 price target on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 48.75% from the stock’s previous close.

The analysts wrote, “We are initiating coverage of Verastem with a BUY rating and a $22 price target, which we believe reflects the value of the company’s oncology-centric pipeline. Verastem is focused on validating and developing drug candidates that address cancer stem cells (CSCs) through various pathways thought to be fundamental to CSCs’ proliferation and perseverance. The company is most well-known for its prosecution of targets and pathways based on groundbreaking work performed by Robert Weinberg, Ph.D., and others that provide a virtual lens to validate drug candidates through proprietary screens and other methodologies. While these proprietary methodologies provide a strong point of departure for clinical work, the classic ‘not invented here’ syndrome is not resident within the company, and that has resulted in the acquisition of clinical candidates that have accelerated commercialization plans, which we find to be a very investor-friendly approach to drug development. 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 (NASDAQ: VSTM) last released its earnings data on Thursday, May 9th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by $0.01.

Other equities research analysts have also recently issued reports about the stock. Analysts at Leerink Swann set a $19.00 price target on shares of Verastem in a research note to investors on Friday, June 28th. Analysts at Roth Capital raised their price target on shares of Verastem from $18.00 to $23.00 in a research note to investors on Monday, June 17th. They now have a “buy” rating on the stock.

Five equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $20.00.

Verastem, Inc is a biopharmaceutical company. The Company is focused on discovering and developing small molecule drugs targeting cancer stem cells (NASDAQ: VSTM) along with companion diagnostics.

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