Credit Suisse Group AG Reiterates Sell Rating for Versartis Inc. (VSAR)
Versartis Inc. (NASDAQ:VSAR)‘s stock had its “sell” rating restated by analysts at Credit Suisse Group AG in a research report issued on Monday. They presently have a $11.00 target price on the biopharmaceutical company’s stock. Credit Suisse Group AG’s target price indicates a potential downside of 17.54% from the company’s previous close.
The analysts wrote, “We are incrementally more optimistic on the VSAR story following last week’s Investor Symposium given the progress the company is making for the well-discussed pediatric indication and also because of what may be an underappreciated opportunity in the adult indication. The stock has had a relatively volatile 12 months (along with much of SMID cap pharma/biotech), but as we start looking ahead to 2017 we see the company as potentially better positioned with the phase 3 data readout in pediatric growth hormone deficiency (GHD) that is expected in 3Q 2017 being the key value driver. The recent Teijen collaboration also puts VSAR in a more secure financial position to see things through on both the pediatric and adult side.””
Other analysts also recently issued reports about the stock. Citigroup Inc. set a $23.00 price objective on shares of Versartis and gave the company a “buy” rating in a research report on Thursday, August 11th. Canaccord Genuity set a $28.00 target price on shares of Versartis and gave the company a “buy” rating in a research note on Thursday, August 11th. Finally, Zacks Investment Research raised shares of Versartis from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $18.50.
Versartis (NASDAQ:VSAR) opened at 13.34 on Monday. Versartis has a 52 week low of $6.17 and a 52 week high of $14.69. The stock’s 50 day moving average is $12.59 and its 200 day moving average is $10.15. The company’s market capitalization is $394.08 million.
Versartis (NASDAQ:VSAR) last announced its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported ($0.75) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.78) by $0.03. On average, equities research analysts expect that Versartis will post ($2.76) earnings per share for the current year.
In other Versartis news, CEO Jay Shepard sold 5,442 shares of Versartis stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $12.88, for a total value of $70,092.96. Following the completion of the transaction, the chief executive officer now directly owns 155,358 shares of the company’s stock, valued at approximately $2,001,011.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 11.60% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. BlackRock Fund Advisors boosted its position in shares of Versartis by 13.8% in the second quarter. BlackRock Fund Advisors now owns 1,078,025 shares of the biopharmaceutical company’s stock worth $11,923,000 after buying an additional 130,529 shares during the last quarter. JPMorgan Chase & Co. raised 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. Vanguard Group Inc. raised its stake in Versartis by 3.5% in the second quarter. Vanguard Group Inc. now owns 689,449 shares of the biopharmaceutical company’s stock valued at $7,626,000 after buying an additional 23,507 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in Versartis by 5.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 432,025 shares of the biopharmaceutical company’s stock valued at $4,778,000 after buying an additional 23,259 shares during the period. Finally, State Street Corp raised its stake 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 during the period. 69.09% of the stock is owned by institutional investors and hedge funds.
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 Analyst Ratings Network's FREE daily email newsletter.