Versartis Inc. (VSAR) Trading Down 4.8%
Versartis Inc. (NASDAQ:VSAR) shares fell 4.8% on Friday . The stock traded as low as $12.47 and last traded at $12.52, with a volume of 51,766 shares trading hands. The stock had previously closed at $13.15.
A number of research firms recently issued reports on VSAR. Zacks Investment Research cut Versartis from a “hold” rating to a “sell” rating in a research note on Wednesday, June 8th. Credit Suisse Group AG restated a “sell” rating and set a $9.00 price objective on shares of Versartis in a research note on Friday, July 29th. Citigroup Inc. set a $23.00 price objective on Versartis and gave the stock a “buy” rating in a research note on Thursday, August 11th. Finally, Canaccord Genuity set a $28.00 price objective on Versartis and gave the stock a “buy” rating in a research note on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $18.00.
The firm’s market capitalization is $368.67 million. The company has a 50 day moving average price of $11.92 and a 200 day moving average price of $9.61.
Versartis (NASDAQ:VSAR) last released its earnings results on Thursday, July 28th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.03. Equities research analysts predict 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 stock was sold at an average price of $12.88, for a total transaction of $70,092.96. Following the completion of the transaction, the chief executive officer now directly owns 155,358 shares of the company’s stock, valued at $2,001,011.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
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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