Canaccord Genuity set a $28.00 price target on Versartis, Inc. (NASDAQ:VSAR) in a research note issued to investors on Friday morning. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Other research analysts have also issued reports about the company. Piper Jaffray Companies set a $26.00 price target on Versartis and gave the company a buy rating in a report on Tuesday, June 27th. Cantor Fitzgerald set a $34.00 price target on Versartis and gave the company a buy rating in a report on Thursday, July 27th. BidaskClub raised Versartis from a hold rating to a buy rating in a report on Monday, July 24th. Zacks Investment Research raised Versartis from a sell rating to a hold rating in a report on Thursday, June 29th. Finally, ValuEngine raised Versartis from a sell rating to a hold rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Versartis has a consensus rating of Buy and an average target price of $25.13.

Shares of Versartis (NASDAQ:VSAR) opened at 18.50 on Friday. Versartis has a 12 month low of $9.05 and a 12 month high of $24.00. The firm’s 50 day moving average is $17.59 and its 200 day moving average is $17.88. The stock’s market capitalization is $653.35 million.

Versartis (NASDAQ:VSAR) last issued its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by $0.20. On average, equities analysts predict that Versartis will post ($2.94) earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VSAR. Perceptive Advisors LLC raised its position in Versartis by 6.1% in the first quarter. Perceptive Advisors LLC now owns 4,407,317 shares of the biopharmaceutical company’s stock worth $94,096,000 after buying an additional 253,632 shares during the last quarter. Vanguard Group Inc. raised its position in Versartis by 11.3% in the first quarter. Vanguard Group Inc. now owns 1,002,507 shares of the biopharmaceutical company’s stock worth $21,404,000 after buying an additional 101,578 shares during the last quarter. State Street Corp raised its position in Versartis by 17.5% in the fourth quarter. State Street Corp now owns 445,716 shares of the biopharmaceutical company’s stock worth $6,638,000 after buying an additional 66,450 shares during the last quarter. Sphera Funds Management LTD. raised its position in Versartis by 20.0% in the first quarter. Sphera Funds Management LTD. now owns 300,000 shares of the biopharmaceutical company’s stock worth $6,405,000 after buying an additional 50,000 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Versartis by 41.0% in the first quarter. Geode Capital Management LLC now owns 257,417 shares of the biopharmaceutical company’s stock worth $5,495,000 after buying an additional 74,865 shares during the last quarter. 78.24% of the stock is currently owned by hedge funds and other institutional investors.

About Versartis

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.

Analyst Recommendations for Versartis (NASDAQ:VSAR)

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