Zacks Investment Research Upgrades Versartis, Inc. (VSAR) to Hold
Versartis, Inc. (NASDAQ:VSAR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Versartis, Inc. operates as a biotechnology company. It develops therapeutic proteins for the treatment of metabolic diseases and endocrine disorders. The Company is developing VRS-317, a long-acting recombinant human growth hormone, which is in Phase 2a clinical trials for the treatment of growth hormone deficiency. Versartis, Inc. is headquartered in Redwood City, California. “
Several other research firms also recently weighed in on VSAR. BidaskClub raised Versartis from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Piper Jaffray Companies set a $26.00 target price on Versartis and gave the company a “buy” rating in a report on Tuesday, June 27th. Canaccord Genuity set a $28.00 target price on Versartis and gave the company a “buy” rating in a report on Friday, July 28th. Cantor Fitzgerald set a $34.00 target price on Versartis and gave the company a “buy” rating in a report on Thursday, July 27th. Finally, Cowen and Company reissued an “outperform” rating and issued a $45.00 target price on shares of Versartis in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $27.88.
Versartis (NASDAQ:VSAR) opened at 19.00 on Wednesday. The stock’s market cap is $675.98 million. The firm’s 50-day moving average price is $17.99 and its 200 day moving average price is $18.37. Versartis has a 12 month low of $9.05 and a 12 month high of $24.00.
Versartis (NASDAQ:VSAR) last posted its earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.84) by $0.20. On average, analysts anticipate that Versartis will post ($3.49) earnings per share for the current year.
Institutional investors have recently modified their holdings of the stock. First Quadrant L P CA bought a new position in shares of Versartis during the second quarter valued at about $155,000. Bank of America Corp DE boosted its position in shares of Versartis by 46.3% in the first 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 during the period. Tudor Investment Corp ET AL bought a new position in shares of Versartis during the second quarter valued at about $218,000. Numeric Investors LLC bought a new position in shares of Versartis during the second quarter valued at about $246,000. Finally, Voya Investment Management LLC boosted its position in shares of Versartis by 26.1% in the second 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 during the period. Hedge funds and other institutional investors own 78.77% of the company’s stock.
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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