Truist lowered the firm's price target on Verastem to $39 from $60 but keeps a Buy rating on the shares. The analyst is updating the firm's model after the recent announcement of trial design for RAMP-301, the Phase 3 confirmatory trial evaluating avutometinib+defactinib in low-grade serous ovarian cancer, and the company's equity raise and reverse stock split. Phase 2 data were strong and support accelerated toward approval, with phase 3 design seen as a step forward, the firm tells investors in a research note, adding that RBC continues to be bullish about the stock.