On May 26, 2023, Verastem Oncology made an exciting announcement regarding its RAMP 201 trial. The trial, which is focused on avutometinib in conjunction with defactinib for patients with recurrent low-grade serous ovarian cancer (LGSOC), has released updated data from its interim analysis. This registration-directed trial has shown an objective response rate of 45% in patients with recurrent LGSOC, according to the updated data from Part A of the trial.
The American Society of Clinical Oncology Annual Meeting will be the platform for Verastem Oncology to present this exciting data. LGSOC is a type of ovarian cancer that accounts for up to 10% of all cases. It has clinical and molecular characteristics that are distinct from high-grade serous ovarian cancer. The updated data from the RAMP 201 trial could have significant implications for the treatment of LGSOC patients.
Verastem Oncology (VSTM) Stock Opens Higher on May 26, 2023 with Positive Earnings Growth
On May 26, 2023, Verastem Oncology (VSTM) stock opened at $0.51, which is higher than its previous close of $0.45. The day’s range for the stock was between $0.46 and $1.21, with a volume of 1,664,457 shares traded. The market cap of VSTM is $90.4M.
VSTM has shown positive earnings growth in the past, but the revenue growth for the last year was negative. The price/book ratio for the stock is good, but the P/E ratio and price/sales ratio are not available. The next reporting date for the company is in August 2023.
Verastem Incs Stock Shows Strong Growth Potential According to Investment Analysts
On May 26, 2023, Verastem Inc’s stock (VSTM) closed at a price of 1.02. According to data from CNN Money, the 7 analysts offering 12-month price forecasts for VSTM have a median target of 3.00, with a high estimate of 5.00 and a low estimate of 2.00. This indicates that the median estimate represents a +194.12% increase from the last price of 1.02.
The current consensus among the 7 polled investment analysts is to buy stock in Verastem Inc. This rating has held steady since March, when it was unchanged from a buy rating. This suggests that the company’s financial performance and outlook are positive, and investors are optimistic about its future growth potential.
Looking at the current quarter, Verastem Inc reported an earnings per share of -$0.10 and sales of $16.7K. The company is set to report its next earnings on August 08, 2023. It will be interesting to see if Verastem Inc can continue to perform well and meet or exceed the expectations of analysts and investors.
Overall, the data suggests that Verastem Inc is a company with strong growth potential, as indicated by the median target price of $3.00, which is significantly higher than the current price of 1.02. The company’s positive rating from investment analysts also indicates that it is a good investment opportunity for those looking to invest in the biotech industry. However, investors should always perform their own due diligence and research before making any investment decisions.
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