Versartis Inc. (VSAR) Receives New Coverage from Analysts at Piper Jaffray Cos.
Piper Jaffray Cos. assumed coverage on shares of Versartis Inc. (NASDAQ:VSAR) in a research note issued on Tuesday. The brokerage set an “overweight” rating and a $22.00 price target on the biopharmaceutical company’s stock. Piper Jaffray Cos.’s price target would suggest a potential upside of 84.25% from the stock’s previous close.
Several other research firms also recently commented on VSAR. Credit Suisse Group AG reissued a “sell” rating and set a $11.00 target price on shares of Versartis in a research report on Monday, September 19th. Canaccord Genuity set a $28.00 target price on shares of Versartis and gave the stock a “buy” rating in a research report on Saturday, September 17th. 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 target price 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 given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $19.20.
Versartis (NASDAQ:VSAR) traded down 0.42% on Tuesday, hitting $11.94. The company had a trading volume of 217,182 shares. The stock’s market cap is $352.72 million. The firm’s 50 day moving average price is $12.81 and its 200 day moving average price is $10.63. Versartis has a 12-month low of $6.17 and a 12-month high of $14.69.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/09/versartis-inc-vsar-receives-new-coverage-from-analysts-at-piper-jaffray-cos.html
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, topping the Thomson Reuters’ consensus estimate of ($0.78) by $0.03. Equities analysts predict that Versartis will post ($2.82) earnings per share for the current fiscal year.
In related news, Director Srinivas Akkaraju bought 571,429 shares of Versartis stock in a transaction that occurred on Monday, October 3rd. The stock was acquired at an average price of $12.25 per share, for a total transaction of $7,000,005.25. Following the completion of the purchase, the director now owns 11,475 shares in the company, valued at $140,568.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jay Shepard sold 5,442 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $12.88, for a total transaction of $70,092.96. Following the completion of the sale, the chief executive officer now owns 155,358 shares of the company’s stock, valued at approximately $2,001,011.04. The disclosure for this sale can be found here. 11.60% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in VSAR. BlackRock Advisors LLC boosted its stake in Versartis by 12.1% in the second quarter. BlackRock Advisors LLC now owns 11,631 shares of the biopharmaceutical company’s stock valued at $129,000 after buying an additional 1,252 shares during the last quarter. Alliancebernstein L.P. bought a new stake in Versartis during the second quarter valued at $142,000. American International Group Inc. boosted its stake in Versartis by 19.4% in the second quarter. American International Group Inc. now owns 15,729 shares of the biopharmaceutical company’s stock valued at $174,000 after buying an additional 2,554 shares during the last quarter. A.R.T. Advisors LLC boosted 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. Finally, Metropolitan Life Insurance Co. NY bought a new stake in Versartis during the second quarter valued at $210,000. Institutional investors and hedge funds own 69.09% of the company’s stock.
Versartis Company Profile
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.
Receive News & Ratings for Versartis Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Versartis Inc. and related companies with MarketBeat.com's FREE daily email newsletter.