Equities researchers at Piper Jaffray Cos. assumed coverage on shares of Versartis Inc. (NASDAQ:VSAR) in a report issued on Tuesday, The Fly reports. The firm set an “overweight” rating on the biopharmaceutical company’s stock.
VSAR has been the subject of a number of other reports. Credit Suisse Group AG reaffirmed a “sell” rating and issued a $11.00 price target on shares of Versartis in a report on Monday, September 19th. Zacks Investment Research raised Versartis from a “sell” rating to a “hold” rating in a report on Wednesday, June 29th. Canaccord Genuity reissued a “buy” rating and issued a $28.00 price objective on shares of Versartis in a report on Friday, July 29th. Finally, Citigroup Inc. set a $23.00 price objective on Versartis and gave the company a “buy” rating in a report on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $18.50.
Versartis (NASDAQ:VSAR) opened at 12.15 on Tuesday. Versartis has a 12-month low of $6.17 and a 12-month high of $14.69. The stock’s 50 day moving average is $12.91 and its 200 day moving average is $10.53. The stock’s market capitalization is $358.92 million.
Versartis (NASDAQ:VSAR) last announced its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported ($0.75) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.78) by $0.03. Equities research analysts forecast that Versartis will post ($2.76) EPS for the current fiscal year.
In other news, CEO Jay Shepard sold 5,442 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was 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 in the company, valued at $2,001,011.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 11.60% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in Versartis by 35.7% in the second quarter. JPMorgan Chase & Co. now owns 856,524 shares of the biopharmaceutical company’s stock valued at $9,473,000 after buying an additional 225,561 shares during the period. BlackRock Fund Advisors boosted its stake in Versartis by 13.8% in the second quarter. BlackRock Fund Advisors now owns 1,078,025 shares of the biopharmaceutical company’s stock valued at $11,923,000 after buying an additional 130,529 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in Versartis during the first quarter valued at approximately $916,000. Emerald Acquisition Ltd. bought a new stake in Versartis during the second quarter valued at approximately $547,000. Finally, State Street Corp boosted its stake in Versartis by 8.8% in the first quarter. State Street Corp now owns 347,718 shares of the biopharmaceutical company’s stock valued at $2,787,000 after buying an additional 28,154 shares during the period. Institutional investors and hedge funds 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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