Bank of America Corporation Downgrades Versartis, Inc. (VSAR) to Neutral
Versartis, Inc. (NASDAQ:VSAR) was downgraded by stock analysts at Bank of America Corporation from a “buy” rating to a “neutral” rating in a note issued to investors on Monday.
Several other equities research analysts have also issued reports on the stock. Piper Jaffray Companies reiterated a “buy” rating and set a $26.00 target price on shares of Versartis in a research report on Friday, September 8th. ValuEngine upgraded shares of Versartis from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Cantor Fitzgerald set a $34.00 target price on shares of Versartis and gave the company a “buy” rating in a research report on Thursday, July 27th. BidaskClub upgraded shares of Versartis from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Finally, Zacks Investment Research upgraded shares of Versartis from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. Versartis currently has a consensus rating of “Hold” and an average target price of $8.78.
Versartis (NASDAQ:VSAR) last announced its earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.20).
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Several institutional investors and hedge funds have recently made changes to their positions in VSAR. Perceptive Advisors LLC lifted its holdings in shares of Versartis by 6.1% in the 1st 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 during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Versartis in the 1st quarter worth approximately $4,117,000. Renaissance Technologies LLC lifted its holdings in shares of Versartis by 334.6% in the 1st 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 during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Versartis by 11.9% in the 2nd 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 during the last quarter. Finally, ClariVest Asset Management LLC bought a new stake in shares of Versartis in the 1st quarter worth approximately $2,480,000. Hedge funds and other institutional investors own 78.24% of the company’s stock.
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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