Versartis Inc. (VSAR) Stock Price Down 4.8%
Versartis Inc. (NASDAQ:VSAR) dropped 4.8% on Friday . The company traded as low as $12.47 and last traded at $12.52, with a volume of 51,766 shares changing hands. The stock had previously closed at $13.15.
VSAR has been the topic of a number of recent research reports. Canaccord Genuity reaffirmed a “buy” rating on shares of Versartis in a report on Tuesday, May 10th. Zacks Investment Research downgraded Versartis from a “hold” rating to a “sell” rating in a report on Tuesday, May 17th. Citigroup Inc. set a $23.00 price objective on Versartis and gave the company a “buy” rating in a report on Thursday, August 11th. Finally, Credit Suisse Group AG reaffirmed a “sell” rating and set a $9.00 price objective on shares of Versartis in a report on Friday, July 29th. One investment 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. Versartis has an average rating of “Hold” and an average price target of $18.00.
The firm’s market cap is $368.67 million. The company has a 50-day moving average of $11.94 and a 200 day moving average of $9.64.
Versartis (NASDAQ:VSAR) last issued its earnings results on Thursday, July 28th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.78) by $0.03. On average, analysts anticipate that Versartis Inc. will post ($2.76) earnings per share for the current fiscal year.
In other news, CEO Jay Shepard sold 5,442 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $12.88, for a total value of $70,092.96. Following the sale, the chief executive officer now directly owns 155,358 shares of the company’s stock, valued at approximately $2,001,011.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
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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