Versartis Inc. (VSAR) Shares Up 7%
Versartis Inc. (NASDAQ:VSAR) shares shot up 7% during mid-day trading on Tuesday . The company traded as high as $13.42 and last traded at $13.38, with a volume of 53,223 shares changing hands. The stock had previously closed at $12.51.
A number of analysts have commented on the stock. Credit Suisse Group AG restated a “sell” rating and set a $11.00 price target on shares of Versartis in a research report on Monday. Canaccord Genuity set a $28.00 price target on shares of Versartis and gave the stock a “buy” rating in a research report on Saturday. Zacks Investment Research downgraded shares of Versartis from a “buy” rating to a “hold” rating in a research report on Saturday, August 13th. Finally, Citigroup Inc. set a $23.00 price target on shares of Versartis and gave the stock a “buy” rating in a research report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $18.50.
The firm’s market cap is $394.08 million. The company has a 50 day moving average price of $12.59 and a 200-day moving average price of $10.15.
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Versartis (NASDAQ:VSAR) last announced its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.03. Analysts predict that Versartis Inc. will post ($2.76) earnings per share for the current fiscal year.
In other news, CEO Jay Shepard sold 5,442 shares of the stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $12.88, for a total value of $70,092.96. Following the completion of the transaction, the chief executive officer now owns 155,358 shares in the company, valued at approximately $2,001,011.04. The sale was disclosed in a filing with the SEC, which is available at this link. 11.60% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. boosted its position in shares of Versartis by 21.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 69,323 shares of the biopharmaceutical company’s stock worth $767,000 after buying an additional 12,440 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new stake in Versartis during the second quarter valued at $210,000. A.R.T. Advisors LLC raised its stake in Versartis by 62.7% in the second quarter. A.R.T. Advisors LLC now owns 17,547 shares of the biopharmaceutical company’s stock valued at $194,000 after buying an additional 6,761 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in Versartis by 10.3% in the second quarter. Parametric Portfolio Associates LLC now owns 47,728 shares of the biopharmaceutical company’s stock valued at $528,000 after buying an additional 4,465 shares during the last quarter. Finally, State Street Corp raised its stake in Versartis by 2.4% in the second quarter. State Street Corp now owns 355,893 shares of the biopharmaceutical company’s stock valued at $3,935,000 after buying an additional 8,175 shares during the last quarter. Institutional investors own 69.09% of the company’s stock.
Versartis, Inc is an endocrine-focused biopharmaceutical company. The Company is engaged in developing long-acting recombinant human growth hormone (rhGH), somavaratan (VRS-317), for growth hormone deficiency (GHD), an orphan disease. The Company’s product pipeline includes VRS-317 and XTEN Technology.
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