Versartis’ (VSAR) “Overweight” Rating Reiterated at Cantor Fitzgerald
Cantor Fitzgerald reaffirmed their overweight rating on shares of Versartis, Inc. (NASDAQ:VSAR) in a research note issued to investors on Friday morning, Marketbeat.com reports. Cantor Fitzgerald currently has a $14.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $34.00.
Other equities analysts have also issued research reports about the stock. Canaccord Genuity set a $28.00 price target on shares of Versartis and gave the stock a buy rating in a research report on Sunday, May 28th. Piper Jaffray Companies downgraded shares of Versartis from an overweight rating to a neutral rating and reduced their price objective for the stock from $26.00 to $4.00 in a report on Friday. ValuEngine downgraded shares of Versartis from a hold rating to a sell rating in a report on Thursday, August 17th. Barclays PLC downgraded shares of Versartis from an overweight rating to an equal weight rating and reduced their price objective for the stock from $28.00 to $4.00 in a report on Friday. Finally, BidaskClub downgraded shares of Versartis from a buy rating to a hold rating in a report on Sunday, July 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $8.78.
Shares of Versartis (NASDAQ VSAR) opened at 2.675 on Friday. Versartis has a 1-year low of $2.60 and a 1-year high of $24.00. The firm’s market cap is $95.17 million. The stock has a 50 day moving average of $18.37 and a 200 day moving average of $18.36.
Versartis (NASDAQ:VSAR) last released its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.20). Equities research analysts anticipate that Versartis will post ($3.54) earnings per share for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of the stock. Perceptive Advisors LLC lifted its holdings in Versartis by 6.1% in the first quarter. Perceptive Advisors LLC now owns 4,407,317 shares of the biopharmaceutical company’s stock worth $94,096,000 after purchasing an additional 253,632 shares during the period. Vanguard Group Inc. lifted its holdings in Versartis by 11.9% in the second quarter. Vanguard Group Inc. now owns 1,121,401 shares of the biopharmaceutical company’s stock worth $19,569,000 after purchasing an additional 118,894 shares during the period. State Street Corp lifted its holdings in Versartis by 6.9% in the second quarter. State Street Corp now owns 556,718 shares of the biopharmaceutical company’s stock worth $9,716,000 after purchasing an additional 35,957 shares during the period. Northern Trust Corp lifted its holdings in Versartis by 15.6% in the second quarter. Northern Trust Corp now owns 420,553 shares of the biopharmaceutical company’s stock worth $7,339,000 after purchasing an additional 56,761 shares during the period. Finally, Sphera Funds Management LTD. lifted its holdings in Versartis by 25.8% in the 2nd quarter. Sphera Funds Management LTD. now owns 377,524 shares of the biopharmaceutical company’s stock valued at $6,588,000 after acquiring an additional 77,524 shares during the last quarter. 78.24% of the stock is owned by institutional investors and hedge funds.
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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