Cowen and Company lowered shares of Versartis, Inc. (NASDAQ:VSAR) from an outperform rating to a market perform rating in a research note published on Friday, Marketbeat Ratings reports. They currently have $3.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $45.00.
Several other equities research analysts have also recently commented on the company. Piper Jaffray Companies reaffirmed a buy rating and set a $26.00 target price on shares of Versartis in a research note on Friday, September 8th. ValuEngine raised Versartis from a sell rating to a hold rating in a research note on Friday, September 1st. Cantor Fitzgerald set a $34.00 target price on Versartis and gave the stock a buy rating in a research note on Thursday, July 27th. BidaskClub raised Versartis from a hold rating to a buy rating in a research note on Monday, July 24th. Finally, Zacks Investment Research raised Versartis from a sell rating to a hold rating in a research note on Thursday, June 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $8.78.
Versartis (VSAR) opened at 2.675 on Friday. The company’s market cap is $95.17 million. The stock’s 50 day moving average price is $18.37 and its 200 day moving average price is $18.36. Versartis has a 12-month low of $2.60 and a 12-month high of $24.00.
Versartis (NASDAQ:VSAR) last issued its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.20). Equities research analysts anticipate that Versartis will post ($3.54) EPS for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VSAR. Perceptive Advisors LLC boosted 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 acquiring an additional 253,632 shares in the last quarter. Driehaus Capital Management LLC bought a new position in Versartis in the first quarter worth approximately $4,117,000. Renaissance Technologies LLC boosted its holdings in 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 acquiring an additional 165,300 shares in the last quarter. Vanguard Group Inc. boosted 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 acquiring an additional 118,894 shares in the last quarter. Finally, ClariVest Asset Management LLC bought a new position in Versartis in the first quarter worth approximately $2,480,000. 78.24% of the stock is owned by institutional investors and hedge funds.
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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