Versartis Inc. (NASDAQ:VSAR) Director Srinivas Akkaraju acquired 571,429 shares of Versartis stock in a transaction on Monday, October 3rd. The shares were bought at an average price of $12.25 per share, with a total value of $7,000,005.25. Following the purchase, the director now directly owns 11,475 shares in the company, valued at approximately $140,568.75. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.
Shares of Versartis Inc. (NASDAQ:VSAR) opened at 11.99 on Friday. The stock’s 50 day moving average price is $12.84 and its 200-day moving average price is $10.59. The firm’s market capitalization is $354.20 million. Versartis Inc. has a 52-week low of $6.17 and a 52-week high of $14.69.
Versartis (NASDAQ:VSAR) last issued its earnings results on Thursday, July 28th. The biopharmaceutical company reported ($0.75) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.03. Equities research analysts anticipate that Versartis Inc. will post ($2.82) EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased 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 during the last quarter. Metropolitan Life Insurance Co. NY bought a new position in Versartis during the second quarter valued at about $210,000. A.R.T. Advisors LLC increased its position 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 in the last quarter. Parametric Portfolio Associates LLC increased its position 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 in the last quarter. Finally, State Street Corp increased its position 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 in the last quarter. Hedge funds and other institutional investors own 69.09% of the company’s stock.
A number of equities analysts have weighed in on the company. Piper Jaffray Cos. assumed coverage on Versartis in a research note on Tuesday. They set an “overweight” rating and a $22.00 price objective for the company. Canaccord Genuity reiterated a “buy” rating and set a $28.00 price objective on shares of Versartis in a research note on Tuesday, September 27th. Credit Suisse Group AG reiterated a “sell” rating and set a $11.00 price objective on shares of Versartis in a research note on Monday, September 19th. Zacks Investment Research lowered Versartis from a “buy” rating to a “hold” rating in a research note on Saturday, August 13th. Finally, Citigroup Inc. set a $23.00 price objective on Versartis and gave the company a “buy” rating in a research note on Thursday, August 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Versartis presently has an average rating of “Buy” and a consensus price target of $19.20.
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.
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