Brokerages Set Versartis, Inc. (VSAR) PT at $7.22

Versartis, Inc. (NASDAQ:VSAR) has been given an average rating of “Hold” by the thirteen ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $7.22.

Several research firms have recently weighed in on VSAR. ValuEngine lowered Versartis from a “sell” rating to a “strong sell” rating in a research note on Friday, September 22nd. Cantor Fitzgerald set a $34.00 price objective on Versartis and gave the company a “buy” rating in a research note on Thursday, July 27th. Zacks Investment Research raised Versartis from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. SunTrust Banks, Inc. lowered Versartis from a “buy” rating to a “hold” rating and reduced their price objective for the company from $25.00 to $4.00 in a research note on Friday, September 22nd. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $9.00 price objective (down from $28.00) on shares of Versartis in a research note on Friday, September 22nd.

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In other Versartis news, major shareholder Life Sciences Maste Perceptive sold 2,130,000 shares of Versartis stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $3.29, for a total transaction of $7,007,700.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 2,132,769 shares of company stock worth $7,014,761 over the last 90 days. 10.90% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of VSAR. Alliancebernstein L.P. increased its holdings in shares of Versartis by 246.5% in the 1st quarter. Alliancebernstein L.P. now owns 47,130 shares of the biopharmaceutical company’s stock valued at $1,006,000 after acquiring an additional 33,530 shares during the last quarter. Wellington Management Group LLP bought a new position in Versartis during the 1st quarter worth $408,000. Teachers Advisors LLC grew its stake in Versartis by 9.7% during the 1st quarter. Teachers Advisors LLC now owns 55,244 shares of the biopharmaceutical company’s stock worth $1,179,000 after buying an additional 4,876 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in Versartis by 35.9% during the 1st quarter. TIAA CREF Investment Management LLC now owns 177,136 shares of the biopharmaceutical company’s stock worth $3,782,000 after buying an additional 46,759 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Versartis by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 1,002,507 shares of the biopharmaceutical company’s stock worth $21,404,000 after buying an additional 101,578 shares during the last quarter. Institutional investors and hedge funds own 52.86% of the company’s stock.

Shares of Versartis (NASDAQ VSAR) traded up $0.02 during trading hours on Friday, reaching $1.85. The company’s stock had a trading volume of 797,573 shares, compared to its average volume of 803,876. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.11. Versartis has a 12-month low of $1.60 and a 12-month high of $24.00.

Versartis (NASDAQ:VSAR) last issued its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.78). During the same period in the previous year, the business earned ($0.92) earnings per share. sell-side analysts expect that Versartis will post -4.14 earnings per share for the current year.

About Versartis

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.

Analyst Recommendations for Versartis (NASDAQ:VSAR)

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