Versartis, Inc. (VSAR) PT Set at $14.00 by Cantor Fitzgerald
Versartis, Inc. (NASDAQ:VSAR) has been given a $14.00 price objective by equities research analysts at Cantor Fitzgerald in a report released on Friday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock.
VSAR has been the subject of several other research reports. BidaskClub downgraded 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 report on Friday, September 8th. Morgan Stanley reiterated an “equal weight” rating and set a $4.00 price target (up previously from $3.00) on shares of Versartis in a research report on Friday, September 22nd. Zacks Investment Research downgraded Versartis from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Citigroup Inc. downgraded Versartis from a “buy” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $3.00 in a research report on Monday, September 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $7.22.
Versartis (NASDAQ VSAR) traded down 17.39% on Friday, reaching $1.90. The company had a trading volume of 3,617,326 shares. Versartis has a 12-month low of $1.90 and a 12-month high of $24.00. The stock’s 50-day moving average price is $8.29 and its 200-day moving average price is $15.32. The stock’s market capitalization is $67.60 million.
Versartis (NASDAQ:VSAR) last issued its earnings results on Thursday, October 26th. The biopharmaceutical company reported ($1.40) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.78). During the same period last year, the company posted ($0.92) earnings per share. On average, equities research analysts anticipate that Versartis will post ($3.61) EPS for the current fiscal year.
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In related news, major shareholder Life Sciences Maste Perceptive sold 2,130,000 shares of the firm’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $3.29, for a total transaction of $7,007,700.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have sold 2,132,769 shares of company stock valued at $7,014,761. Corporate insiders own 10.90% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Quadrant L P CA purchased a new position in shares of Versartis during the 2nd quarter valued at about $155,000. Bank of America Corp DE raised its holdings in shares of Versartis by 46.3% during the 1st quarter. Bank of America Corp DE now owns 9,482 shares of the biopharmaceutical company’s stock valued at $203,000 after buying an additional 3,001 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Versartis during the 2nd quarter valued at about $218,000. Numeric Investors LLC purchased a new position in shares of Versartis during the 2nd quarter valued at about $246,000. Finally, Voya Investment Management LLC raised its holdings in shares of Versartis by 26.1% during the 2nd quarter. Voya Investment Management LLC now owns 14,960 shares of the biopharmaceutical company’s stock valued at $261,000 after buying an additional 3,094 shares in the last quarter. 73.61% of the stock is currently owned by institutional investors.
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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