Piper Jaffray Companies downgraded shares of Versartis, Inc. (NASDAQ:VSAR) from an overweight rating to a neutral rating in a report published on Friday morning, MarketBeat reports. They currently have $4.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $26.00.

Other equities research analysts have also recently issued reports about the stock. Canaccord Genuity set a $28.00 price target on shares of Versartis and gave the company a buy rating in a report on Sunday, May 28th. ValuEngine cut shares of Versartis from a hold rating to a sell rating in a report on Thursday, August 17th. BidaskClub cut shares of Versartis from a buy rating to a hold rating in a report on Sunday, July 16th. Cowen and Company restated an outperform rating and set a $45.00 price target on shares of Versartis in a report on Wednesday, August 23rd. Finally, Zacks Investment Research upgraded shares of Versartis from a sell rating to a hold rating in a research note on Wednesday, August 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. Versartis presently has an average rating of Hold and an average target price of $8.20.

Versartis (NASDAQ VSAR) opened at 2.425 on Friday. The firm’s market cap is $86.28 million. The company has a 50 day moving average price of $18.37 and a 200 day moving average price of $18.36. Versartis has a 1-year low of $2.35 and a 1-year high of $24.00.

Versartis (NASDAQ:VSAR) last released 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). On average, equities research analysts forecast that Versartis will post ($3.60) earnings per share for the current year.

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In related news, major shareholder Life Sciences Maste Perceptive sold 2,130,000 shares of the stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $3.29, for a total value of $7,007,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.60% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Parametric Portfolio Associates LLC lifted its stake 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 purchasing an additional 535 shares during the period. Schwab Charles Investment Management Inc. lifted its stake 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 purchasing an additional 627 shares during the period. The Manufacturers Life Insurance Company lifted its stake 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 purchasing an additional 1,204 shares during the period. Rhumbline Advisers lifted its stake 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 purchasing an additional 1,420 shares during the period. Finally, Alps Advisors Inc. lifted its stake 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 purchasing an additional 1,845 shares during the period. 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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