Verastem (VSTM) Shares Soar 2.65% on Jefferies Buy Rating

Verastem (VSTM) shares surged 2.65% today, marking a significant rebound after hitting its lowest level since December 2024, with an intraday decline of 3.98%.

Verastem's stock price has been positively influenced by Jefferies initiating a Buy rating with a target price of $15. This rating is primarily due to the potential FDA approval for its ovarian cancer drug combination. The FDA action date is set for June 30, which could further impact the stock depending on the outcome. This news has generated optimism among investors, who are closely monitoring the regulatory process for the drug combination.