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Fly News Breaks for August 26, 2015
VSTM
Aug 26, 2015 | 11:43 EDT
Roth Capital analyst Joseph Pantginis attributes the selloff in Verastem shares to incomplete info regarding efficacy and safety in its abstract for a presentation on its Phase II study in KRAS mutated lung cancer that was just released. However, the analyst said he views that particular study as a "swing for the fences" one that had low chances of success anyway, adding that the abstract is a "placeholder" and that Verastem will give more complete data at the conference. The analyst, who believes that that the main value driver for the company is another study, COMMAND, reiterate his Buy rating and $23 price target on the stock, which is down more than 25% to $4.90 in intraday trade.
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