Versartis, Inc. (NASDAQ:VSAR) has earned an average recommendation of “Hold” from the twelve analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $5.63.
Several research analysts have recently commented on VSAR shares. Morgan Stanley reissued an “equal weight” rating and issued a $4.00 target price (up from $3.00) on shares of Versartis in a report on Friday, September 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 target price (down from $34.00) on shares of Versartis in a report on Friday, September 22nd. Cowen downgraded Versartis from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $45.00 to $3.00 in a report on Friday, September 22nd. Bank of America downgraded Versartis from a “buy” rating to a “neutral” rating in a report on Monday, September 25th. Finally, ValuEngine downgraded Versartis from a “sell” rating to a “strong sell” rating in a report on Friday, September 22nd.
Versartis (VSAR) opened at $2.28 on Monday. The company has a market capitalization of $81.47, a P/E ratio of -0.58 and a beta of 2.36. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.11. Versartis has a 1-year low of $1.60 and a 1-year high of $24.00.
In other news, Director Srinivas Akkaraju acquired 513,872 shares of Versartis stock in a transaction on Monday, December 4th. The shares were purchased at an average price of $2.21 per share, with a total value of $1,135,657.12. Following the acquisition, the director now owns 14,955 shares in the company, valued at $33,050.55. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last ninety days, insiders have sold 2,769 shares of company stock worth $7,061. Company insiders own 10.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of VSAR. Schwab Charles Investment Management Inc. lifted its stake in shares of Versartis by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 109,409 shares of the biopharmaceutical company’s stock valued at $1,910,000 after purchasing an additional 627 shares during the period. Rhumbline Advisers lifted its stake in shares of Versartis by 4.2% in the 2nd quarter. Rhumbline Advisers now owns 35,388 shares of the biopharmaceutical company’s stock valued at $618,000 after purchasing an additional 1,420 shares during the period. State of Wisconsin Investment Board acquired a new position in shares of Versartis in the 2nd quarter valued at $419,000. Marshall Wace North America L.P. acquired a new position in shares of Versartis in the 2nd quarter valued at $495,000. Finally, Prudential Financial Inc. acquired a new position in shares of Versartis in the 2nd quarter valued at $469,000. 49.18% of the stock is currently owned by institutional investors.
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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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