Versartis (VSAR) Rating Lowered to Hold at Canaccord Genuity
Versartis (NASDAQ:VSAR) was downgraded by stock analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a report released on Friday, Marketbeat Ratings reports. They presently have a $5.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $9.00. Canaccord Genuity’s price objective suggests a potential upside of 181.69% from the stock’s current price.
Separately, Zacks Investment Research downgraded shares of Versartis from a “hold” rating to a “sell” rating in a research note on Sunday, January 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $5.13.
Versartis (VSAR) opened at $1.78 on Friday. The firm has a market cap of $72.79, a price-to-earnings ratio of -0.74 and a beta of 2.21. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.11. Versartis has a 52 week low of $1.55 and a 52 week high of $22.30.
In related news, Director Srinivas Akkaraju acquired 513,872 shares of Versartis stock in a transaction on Monday, December 4th. The shares were purchased at an average cost of $2.21 per share, for a total transaction of $1,135,657.12. Following the purchase, the director now directly owns 14,955 shares of the company’s stock, valued at approximately $33,050.55. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jay Shepard sold 14,446 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $1.80, for a total transaction of $26,002.80. Following the transaction, the insider now owns 602,298 shares in the company, valued at $1,084,136.40. The disclosure for this sale can be found here. Insiders have sold a total of 21,400 shares of company stock worth $38,520 over the last quarter. 10.90% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of VSAR. Guggenheim Capital LLC bought a new position in Versartis during the 4th quarter valued at $1,989,000. Two Sigma Investments LP acquired a new stake in shares of Versartis during the fourth quarter worth $787,000. Sabby Management LLC raised its holdings in shares of Versartis by 40.3% during the fourth quarter. Sabby Management LLC now owns 993,100 shares of the biopharmaceutical company’s stock worth $2,185,000 after purchasing an additional 285,168 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Versartis by 362.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 295,902 shares of the biopharmaceutical company’s stock worth $651,000 after purchasing an additional 231,860 shares during the period. Finally, Anson Funds Management LP acquired a new stake in shares of Versartis during the fourth quarter worth $419,000. Hedge funds and other institutional investors own 42.90% of the company’s stock.
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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.
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