Versartis, Inc. (NASDAQ:VSAR) was downgraded by SunTrust Banks, Inc. from a “buy” rating to a “hold” rating in a research note issued on Friday. They presently have a $4.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $25.00. SunTrust Banks, Inc.’s price objective would suggest a potential upside of 49.53% from the stock’s current price.

A number of other research analysts have also recently commented on VSAR. Canaccord Genuity set a $28.00 target price on Versartis and gave the company a “buy” rating in a research note on Sunday, May 28th. Piper Jaffray Companies set a $26.00 target price on Versartis and gave the company a “buy” rating in a research note on Tuesday, June 27th. Cantor Fitzgerald set a $34.00 target price on Versartis and gave the company a “buy” rating in a research note on Thursday, July 27th. BidaskClub raised Versartis from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Zacks Investment Research raised Versartis from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Versartis currently has an average rating of “Hold” and a consensus price target of $8.78.

Shares of Versartis (VSAR) opened at 2.675 on Friday. The firm 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. The stock’s market cap is $95.17 million.

Versartis (NASDAQ:VSAR) last issued its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported ($1.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.84) by ($0.20). Equities research analysts expect that Versartis will post ($3.54) earnings per share for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Lord Abbett & CO. LLC boosted its holdings in shares of Versartis by 26.5% in the second quarter. Lord Abbett & CO. LLC now owns 319,854 shares of the biopharmaceutical company’s stock valued at $5,582,000 after purchasing an additional 66,977 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Versartis by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 26,326 shares of the biopharmaceutical company’s stock valued at $459,000 after purchasing an additional 1,204 shares during the period. State Street Corp boosted its holdings in shares of Versartis by 6.9% in the second quarter. State Street Corp now owns 556,718 shares of the biopharmaceutical company’s stock valued at $9,716,000 after purchasing an additional 35,957 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its holdings in shares of Versartis by 13.6% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 24,714 shares of the biopharmaceutical company’s stock valued at $431,000 after purchasing an additional 2,967 shares during the period. Finally, Sectoral Asset Management Inc purchased a new stake in shares of Versartis in the second quarter valued at approximately $1,828,000. Hedge funds and other institutional investors own 78.24% of the company’s stock.

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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