Versartis, Inc. (VSAR) Downgraded by Barclays PLC
Barclays PLC lowered shares of Versartis, Inc. (NASDAQ:VSAR) from an overweight rating to an equal weight rating in a research note issued to investors on Friday morning, Marketbeat reports. Barclays PLC currently has $4.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $28.00.
VSAR has been the topic of a number of other reports. BidaskClub lowered shares of Versartis from a buy rating to a hold rating in a research note on Sunday, July 16th. Piper Jaffray Companies reiterated a buy rating and set a $26.00 price target on shares of Versartis in a research note on Friday, September 8th. Zacks Investment Research lowered shares of Versartis from a hold rating to a sell rating in a research note on Wednesday, August 2nd. Canaccord Genuity set a $28.00 price target on shares of Versartis and gave the stock a buy rating in a research note on Sunday, May 28th. Finally, Cowen and Company reiterated an outperform rating and set a $45.00 price target on shares of Versartis in a research note on Wednesday, August 23rd. One 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 stock. The company presently has a consensus rating of Hold and a consensus target price of $8.78.
Versartis (NASDAQ:VSAR) opened at 2.675 on Friday. The firm’s 50-day moving average is $18.37 and its 200-day moving average is $18.36. The stock’s market cap is $95.17 million. Versartis has a 52-week low of $2.60 and a 52-week high of $24.00.
Versartis (NASDAQ:VSAR) last issued its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.84) by ($0.20). Equities research analysts predict that Versartis will post ($3.54) earnings per share for the current year.
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Hedge funds have recently added to or reduced their stakes in the stock. First Quadrant L P CA purchased a new stake in shares of Versartis during the second quarter worth approximately $155,000. Bank of America Corp DE increased its stake in shares of Versartis by 46.3% during the first quarter. Bank of America Corp DE now owns 9,482 shares of the biopharmaceutical company’s stock worth $203,000 after buying an additional 3,001 shares during the period. Tudor Investment Corp ET AL purchased a new stake in shares of Versartis during the second quarter worth approximately $218,000. Numeric Investors LLC purchased a new stake in shares of Versartis during the second quarter worth approximately $246,000. Finally, Voya Investment Management LLC increased its stake in shares of Versartis by 26.1% during the second quarter. Voya Investment Management LLC now owns 14,960 shares of the biopharmaceutical company’s stock worth $261,000 after buying an additional 3,094 shares during the period. Hedge funds and other institutional investors 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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