Versartis, Inc. (NASDAQ:VSAR)’s share price shot up 3.3% during mid-day trading on Friday . The company traded as high as $21.40 and last traded at $20.25. 213,244 shares changed hands during mid-day trading, a decline of 15% from the average session volume of 250,295 shares. The stock had previously closed at $20.95.

A number of brokerages have issued reports on VSAR. Piper Jaffray Companies reissued a “buy” rating and issued a $26.00 target price on shares of Versartis in a report on Friday. ValuEngine upgraded shares of Versartis from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Versartis from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. Cowen and Company reiterated an “outperform” rating and set a $45.00 price objective on shares of Versartis in a research note on Wednesday, August 23rd. Finally, BidaskClub lowered shares of Versartis from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Versartis has a consensus rating of “Buy” and an average price target of $27.88.

The firm’s market capitalization is $709.78 million. The stock’s 50 day moving average is $18.28 and its 200-day moving average is $18.50.

Versartis (NASDAQ:VSAR) last announced its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by $0.20. On average, equities research analysts forecast that Versartis, Inc. will post ($3.49) earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in VSAR. Perceptive Advisors LLC lifted its stake in shares of Versartis by 6.1% during the 1st quarter. Perceptive Advisors LLC now owns 4,407,317 shares of the biopharmaceutical company’s stock worth $94,096,000 after buying an additional 253,632 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Versartis by 11.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,121,401 shares of the biopharmaceutical company’s stock worth $19,569,000 after buying an additional 118,894 shares during the last quarter. State Street Corp lifted its stake in shares of Versartis by 6.9% during the 2nd quarter. State Street Corp now owns 556,718 shares of the biopharmaceutical company’s stock worth $9,716,000 after buying an additional 35,957 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Versartis by 15.6% during the 2nd quarter. Northern Trust Corp now owns 420,553 shares of the biopharmaceutical company’s stock worth $7,339,000 after buying an additional 56,761 shares during the last quarter. Finally, Sphera Funds Management LTD. lifted its stake in shares of Versartis by 25.8% during the 2nd quarter. Sphera Funds Management LTD. now owns 377,524 shares of the biopharmaceutical company’s stock worth $6,588,000 after buying an additional 77,524 shares during the last quarter. Hedge funds and other institutional investors own 78.77% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Versartis, Inc. (VSAR) Shares Up -3.3%” was originally published by Daily Political and is the sole property of of Daily Political. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The original version of this news story can be read at https://www.dailypolitical.com/2017/09/08/versartis-inc-vsar-shares-up-3-3.html.

Versartis Company Profile

Versartis, Inc is an endocrine-focused biopharmaceutical company. The Company is engaged in developing a long-acting form of recombinant human growth hormone, somavaratan (VRS-317), for growth hormone deficiency (GHD), an orphan disease. The Company’s first indication for somavaratan is pediatric GHD.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.