Versartis Inc. (VSAR) Sees Large Volume Increase
Versartis Inc. (NASDAQ:VSAR) shares saw unusually-high trading volume on Thursday . Approximately 107,230 shares traded hands during trading, an increase of 46% from the previous session’s volume of 73,214 shares.The stock last traded at $11.71 and had previously closed at $11.37.
VSAR has been the topic of a number of analyst reports. Citigroup Inc. set a $23.00 target price on Versartis and gave the company a “buy” rating in a report on Thursday. Canaccord Genuity set a $28.00 price objective on Versartis and gave the stock a “buy” rating in a report on Thursday. Zacks Investment Research upgraded Versartis from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Wednesday, August 3rd. Morgan Stanley restated a “hold” rating on shares of Versartis in a report on Saturday, April 30th. Finally, Credit Suisse Group AG restated a “sell” rating and set a $9.00 price objective on shares of Versartis in a report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $17.80.
The firm’s 50-day moving average price is $10.96 and its 200 day moving average price is $9.31. The stock’s market cap is $379.31 million.
Versartis (NASDAQ:VSAR) last announced its earnings results on Thursday, July 28th. The biopharmaceutical company reported ($0.75) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.78) by $0.03. On average, equities analysts forecast that Versartis Inc. will post ($3.20) EPS for the current fiscal year.
Versartis, Inc is an endocrine-focused biopharmaceutical company. The Company is engaged in developing long-acting recombinant human growth hormone (rhGH), somavaratan (VRS-317), for growth hormone deficiency (GHD), an orphan disease. The Company’s product pipeline includes VRS-317 and XTEN Technology.
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