Versartis, Inc. (NASDAQ:VSAR)‘s stock had its “overweight” rating reiterated by analysts at Cantor Fitzgerald in a research report issued on Friday, Marketbeat reports. They presently have a $14.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $34.00. Cantor Fitzgerald’s price objective would suggest a potential upside of 423.36% from the stock’s current price.

Several other equities research analysts have also commented on the stock. SunTrust Banks, Inc. lowered shares of Versartis from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a research note on Friday. Cowen and Company lowered shares of Versartis from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $45.00 to $3.00 in a research note on Friday. Barclays PLC lowered shares of Versartis from an “overweight” rating to an “underweight” rating and cut their price target for the stock from $28.00 to $4.00 in a research note on Friday. Piper Jaffray Companies lowered shares of Versartis from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $26.00 to $4.00 in a research note on Friday. Finally, ValuEngine upgraded shares of Versartis from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $11.11.

Shares of Versartis (NASDAQ:VSAR) traded down 87.616% during midday trading on Friday, hitting $2.675. 40,104,166 shares of the stock were exchanged. The company’s market cap is $95.17 million. The stock has a 50 day moving average price of $18.37 and a 200-day moving average price of $18.36. Versartis has a 12 month low of $2.60 and a 12 month high of $24.00.

Versartis (NASDAQ:VSAR) last announced its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.84) by ($0.20). On average, analysts predict that Versartis will post ($3.54) EPS for the current year.

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Institutional investors have recently modified their holdings of the business. First Quadrant L P CA purchased a new position in Versartis during the 2nd quarter worth $155,000. Bank of America Corp DE grew its position in Versartis by 46.3% during the 1st quarter. Bank of America Corp DE now owns 9,482 shares of the biopharmaceutical company’s stock worth $203,000 after purchasing an additional 3,001 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in Versartis during the 2nd quarter worth $218,000. Numeric Investors LLC purchased a new position in Versartis during the 2nd quarter worth $246,000. Finally, Voya Investment Management LLC grew its position in Versartis by 26.1% during the 2nd quarter. Voya Investment Management LLC now owns 14,960 shares of the biopharmaceutical company’s stock worth $261,000 after purchasing an additional 3,094 shares during the last quarter. 78.24% of the stock is currently 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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