Versartis, Inc. (VSAR) Downgraded by ValuEngine to Strong Sell
ValuEngine cut shares of Versartis, Inc. (NASDAQ:VSAR) from a sell rating to a strong sell rating in a research note released on Friday.
Several other equities analysts have also recently commented on the stock. Piper Jaffray Companies reissued a buy rating and issued a $26.00 price target on shares of Versartis in a research report on Friday, September 8th. Cantor Fitzgerald set a $34.00 price target on shares of Versartis and gave the company a buy rating in a research report on Thursday, July 27th. BidaskClub raised shares of Versartis from a hold rating to a buy rating in a research report on Monday, July 24th. Zacks Investment Research raised shares of Versartis from a sell rating to a hold rating in a research report on Thursday, June 29th. Finally, Canaccord Genuity set a $28.00 price target on shares of Versartis and gave the company a buy rating in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $18.22.
Shares of Versartis (VSAR) traded down 87.616% during mid-day trading on Friday, hitting $2.675. The company had a trading volume of 40,104,166 shares. The firm’s market capitalization is $95.17 million. Versartis has a 52-week low of $2.60 and a 52-week high of $24.00. The firm has a 50-day moving average price of $18.37 and a 200 day moving average price of $18.36.
Versartis (NASDAQ:VSAR) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported ($1.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.84) by ($0.20). Analysts expect that Versartis will post ($3.54) earnings per share for the current year.
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Institutional investors and hedge funds have recently made changes to their positions in the company. First Quadrant L P CA acquired a new stake in shares of Versartis in the 2nd quarter valued at $155,000. Bank of America Corp DE raised its holdings in shares of Versartis by 46.3% in the 1st quarter. Bank of America Corp DE now owns 9,482 shares of the biopharmaceutical company’s stock valued at $203,000 after purchasing an additional 3,001 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Versartis in the 2nd quarter valued at $218,000. Numeric Investors LLC acquired a new stake in shares of Versartis in the 2nd quarter valued at $246,000. Finally, Voya Investment Management LLC raised its holdings in shares of Versartis by 26.1% in the 2nd quarter. Voya Investment Management LLC now owns 14,960 shares of the biopharmaceutical company’s stock valued at $261,000 after purchasing an additional 3,094 shares in the last quarter. Institutional investors and hedge funds own 78.24% of the company’s stock.
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.
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