Versartis Inc. (VSAR) Now Covered by Analysts at Piper Jaffray Cos.
Piper Jaffray Cos. began coverage on shares of Versartis Inc. (NASDAQ:VSAR) in a research note released on Tuesday. The firm issued an overweight rating and a $22.00 target price on the biopharmaceutical company’s stock.
A number of other analysts have also issued reports on the stock. Canaccord Genuity restated a buy rating and set a $28.00 target price on shares of Versartis in a research report on Tuesday, September 27th. Credit Suisse Group AG restated a sell rating and set a $11.00 target price on shares of Versartis in a research report on Monday, September 19th. Zacks Investment Research lowered shares of Versartis from a buy rating to a hold rating in a research report on Saturday, August 13th. Finally, Citigroup Inc. set a $23.00 target price on shares of Versartis and gave the stock a buy rating in a research report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. Versartis presently has a consensus rating of Buy and a consensus price target of $19.20.
Shares of Versartis (NASDAQ:VSAR) traded down 1.56% during trading on Tuesday, hitting $11.98. The company had a trading volume of 39,852 shares. Versartis has a 52-week low of $6.17 and a 52-week high of $14.69. The firm’s market capitalization is $353.90 million. The stock’s 50-day moving average is $12.89 and its 200 day moving average is $10.57.
Versartis (NASDAQ:VSAR) last issued its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.78) by $0.03. Equities research analysts predict that Versartis will post ($2.76) earnings per share for the current fiscal year.
In related news, Director Srinivas Akkaraju bought 571,429 shares of the company’s stock in a transaction dated Monday, October 3rd. The stock was bought at an average price of $12.25 per share, with a total value of $7,000,005.25. Following the transaction, the director now owns 11,475 shares of the company’s stock, valued at $140,568.75. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jay Shepard sold 5,442 shares of the business’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $12.88, for a total transaction of $70,092.96. Following the completion of the sale, the chief executive officer now directly owns 155,358 shares of the company’s stock, valued at approximately $2,001,011.04. The disclosure for this sale can be found here. Corporate insiders own 11.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in VSAR. Oxford Asset Management increased its stake in Versartis by 28.9% in the second quarter. Oxford Asset Management now owns 80,989 shares of the biopharmaceutical company’s stock valued at $896,000 after buying an additional 18,169 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Versartis during the first quarter valued at $916,000. Spark Investment Management LLC increased its stake in Versartis by 35.5% in the first quarter. Spark Investment Management LLC now owns 49,440 shares of the biopharmaceutical company’s stock valued at $396,000 after buying an additional 12,940 shares during the last quarter. Geode Capital Management LLC increased its stake in Versartis by 7.7% in the first quarter. Geode Capital Management LLC now owns 140,495 shares of the biopharmaceutical company’s stock valued at $1,126,000 after buying an additional 9,987 shares during the last quarter. Finally, State Street Corp increased its stake in Versartis by 8.8% in the first quarter. State Street Corp now owns 347,718 shares of the biopharmaceutical company’s stock valued at $2,787,000 after buying an additional 28,154 shares during the last quarter. 69.09% of the stock is owned by institutional investors.
Versartis, Inc is an endocrine-focused biopharmaceutical company. The Company is engaged in developing long-acting recombinant human growth hormone (rhGH), somavaratan (VRS-317), for growth hormone deficiency (GHD), an orphan disease. The Company’s product pipeline includes VRS-317 and XTEN Technology.
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