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Citigroup Inc. assumed coverage on shares of Versartis (NASDAQ:VSAR) in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.

Versartis (NASDAQ:VSAR) opened at 24.56 on Tuesday. Versartis has a 1-year low of $23.51 and a 1-year high of $36.30. The stock has a 50-day moving average of $28.84 and a 200-day moving average of $28.84. The company’s market cap is $571.3 million.

A number of other firms have also recently commented on VSAR. Analysts at Citic Securities Co., Ltd reiterated a “buy” rating on shares of Versartis in a research note on Tuesday. They now have a $60.00 price target on the stock. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Versartis in a research note on Tuesday. They now have a $79.00 price target on the stock.

Versartis, Inc is an endocrine-focused biopharmaceutical company. The Company is initially developing its long-acting recombinant human growth hormone, VRS-317, for growth hormone deficiency (NASDAQ:VSAR), an orphan disease.

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