Versartis, Inc. (VSAR) Downgraded to Market Perform at Cowen and Company
Cowen and Company downgraded shares of Versartis, Inc. (NASDAQ:VSAR) from an outperform rating to a market perform rating in a research report sent to investors on Friday, MarketBeat reports. They currently have $3.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $45.00.
A number of other analysts also recently issued reports on the stock. Barclays PLC downgraded shares of Versartis from an overweight rating to an equal weight rating and decreased their price objective for the stock from $28.00 to $4.00 in a report on Friday. Piper Jaffray Companies downgraded shares of Versartis from an overweight rating to a neutral rating and decreased their price objective for the stock from $26.00 to $4.00 in a report on Friday. ValuEngine upgraded shares of Versartis from a sell rating to a hold rating in a report on Friday, September 1st. Zacks Investment Research upgraded shares of Versartis from a sell rating to a hold rating in a report on Wednesday, August 30th. Finally, BidaskClub downgraded shares of Versartis from a buy rating to a hold rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. Versartis currently has a consensus rating of Hold and a consensus price target of $8.20.
Shares of Versartis (NASDAQ VSAR) opened at 2.425 on Friday. Versartis has a one year low of $2.35 and a one year high of $24.00. The company’s market cap is $86.28 million. The company’s 50 day moving average is $18.37 and its 200 day moving average is $18.36.
Versartis (NASDAQ:VSAR) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.20). On average, equities analysts predict that Versartis will post ($3.60) earnings per share for the current year.
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In other news, major shareholder Life Sciences Maste Perceptive sold 2,130,000 shares of Versartis stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $3.29, for a total value of $7,007,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.60% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of VSAR. Perceptive Advisors LLC increased its stake in shares of 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 in the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Versartis in the first quarter worth about $4,117,000. Renaissance Technologies LLC increased its stake in shares of Versartis by 334.6% in the first quarter. Renaissance Technologies LLC now owns 214,700 shares of the biopharmaceutical company’s stock worth $4,584,000 after purchasing an additional 165,300 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of 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 in the last quarter. Finally, ClariVest Asset Management LLC purchased a new position in shares of Versartis in the first quarter worth about $2,480,000. Hedge funds and other institutional investors own 78.24% 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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