Versartis, Inc. (VSAR) Upgraded to Hold by ValuEngine
Versartis, Inc. (NASDAQ:VSAR) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
Other equities research analysts also recently issued research reports about the company. Canaccord Genuity set a $28.00 price target on Versartis and gave the company a “buy” rating in a research report on Sunday, May 28th. Cantor Fitzgerald began coverage on Versartis in a research report on Thursday, May 4th. They issued an “overweight” rating and a $34.00 target price for the company. BidaskClub downgraded Versartis from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Cowen and Company reaffirmed an “outperform” rating and issued a $45.00 target price on shares of Versartis in a research report on Wednesday, August 23rd. Finally, Zacks Investment Research raised Versartis from a “sell” rating to a “hold” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $27.88.
Versartis (NASDAQ VSAR) traded up 2.11% during midday trading on Friday, reaching $19.40. The company’s stock had a trading volume of 433,207 shares. The company’s market capitalization is $690.21 million. The company has a 50 day moving average of $18.06 and a 200-day moving average of $18.40. Versartis has a 1-year low of $9.05 and a 1-year high of $24.00.
Versartis (NASDAQ:VSAR) last posted 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 anticipate that Versartis will post ($3.49) earnings per share for the current fiscal year.
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Several large investors have recently modified their holdings of VSAR. American International Group Inc. increased its stake in shares of Versartis by 20.7% in the first quarter. American International Group Inc. now owns 18,962 shares of the biopharmaceutical company’s stock valued at $405,000 after buying an additional 3,250 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Versartis during the first quarter valued at $563,000. Alambic Investment Management L.P. boosted its position in Versartis by 148.7% in the first quarter. Alambic Investment Management L.P. now owns 30,378 shares of the biopharmaceutical company’s stock valued at $649,000 after buying an additional 18,165 shares during the period. Oxford Asset Management boosted its position in Versartis by 240.9% in the first quarter. Oxford Asset Management now owns 124,744 shares of the biopharmaceutical company’s stock valued at $2,663,000 after buying an additional 88,151 shares during the period. Finally, Trexquant Investment LP acquired a new position in Versartis during the first quarter valued at approximately $600,000. 78.77% of the stock is owned by institutional investors.
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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