Versartis, Inc. (NASDAQ:VSAR)‘s stock had its “equal weight” rating reiterated by investment analysts at Morgan Stanley in a research note issued on Friday. They currently have a $4.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $3.00. Morgan Stanley’s target price points to a potential downside of 81.69% from the stock’s current price.

VSAR has been the subject of several other reports. BidaskClub downgraded Versartis from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Versartis in a research note on Friday, September 8th. Cantor Fitzgerald dropped their price objective on Versartis from $34.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday. Zacks Investment Research downgraded Versartis from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Canaccord Genuity set a $28.00 price objective on Versartis and gave the company a “buy” rating in a research note on Sunday, May 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Versartis has an average rating of “Hold” and an average price target of $23.00.

Shares of Versartis (VSAR) opened at 21.60 on Friday. Versartis has a 52 week low of $9.05 and a 52 week high of $24.00. The firm’s market capitalization is $768.48 million. The stock has a 50 day moving average price of $18.37 and a 200-day moving average price of $18.36.

Versartis (NASDAQ:VSAR) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.20). On average, analysts anticipate that Versartis will post ($3.54) EPS for the current year.

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A number of institutional investors have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC increased its position in Versartis by 1.7% during the second quarter. Parametric Portfolio Associates LLC now owns 32,597 shares of the biopharmaceutical company’s stock worth $569,000 after buying an additional 535 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Versartis by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 109,409 shares of the biopharmaceutical company’s stock worth $1,910,000 after buying an additional 627 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Versartis by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 26,326 shares of the biopharmaceutical company’s stock worth $459,000 after buying an additional 1,204 shares in the last quarter. Rhumbline Advisers increased its position in Versartis by 4.2% during the second quarter. Rhumbline Advisers now owns 35,388 shares of the biopharmaceutical company’s stock worth $618,000 after buying an additional 1,420 shares in the last quarter. Finally, Alps Advisors Inc. increased its position in Versartis by 6.2% during the second quarter. Alps Advisors Inc. now owns 31,780 shares of the biopharmaceutical company’s stock worth $555,000 after buying an additional 1,845 shares in the last quarter. 78.24% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Versartis (NASDAQ:VSAR)

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