Versartis, Inc. (NASDAQ:VSAR) shares dropped 5.3% on Monday . The company traded as low as $2.10 and last traded at $2.13. Approximately 1,295,512 shares changed hands during mid-day trading, an increase of 56% from the average daily volume of 829,041 shares. The stock had previously closed at $2.25.

VSAR has been the topic of a number of recent research reports. Piper Jaffray Companies reissued a “buy” rating and issued a $26.00 target price on shares of Versartis in a report on Friday, September 8th. Canaccord Genuity restated a “buy” rating and issued a $9.00 price target (down previously from $28.00) on shares of Versartis in a research report on Friday, September 22nd. Cantor Fitzgerald set a $14.00 price target on Versartis and gave the stock a “buy” rating in a research report on Friday, October 27th. Morgan Stanley restated an “equal weight” rating and issued a $4.00 price target (up previously from $3.00) on shares of Versartis in a research report on Friday, September 22nd. Finally, Barclays cut Versartis from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $28.00 to $4.00 in a research report on Friday, September 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. Versartis currently has an average rating of “Hold” and a consensus price target of $7.22.

The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.11.

Versartis (NASDAQ:VSAR) last issued its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported ($1.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.78). During the same period last year, the firm posted ($0.92) earnings per share. sell-side analysts anticipate that Versartis, Inc. will post -4.14 EPS for the current fiscal year.

In related news, major shareholder Life Sciences Maste Perceptive sold 2,130,000 shares of the stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $3.29, for a total transaction of $7,007,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Srinivas Akkaraju bought 513,872 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were acquired at an average price of $2.21 per share, with a total value of $1,135,657.12. Following the transaction, the director now directly owns 14,955 shares of the company’s stock, valued at approximately $33,050.55. The disclosure for this purchase can be found here. Insiders have sold 2,132,769 shares of company stock valued at $7,014,761 in the last quarter. 10.90% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in VSAR. Orbimed Advisors LLC purchased a new stake in shares of Versartis during the third quarter worth about $123,000. Bank of America Corp DE grew its position in shares of Versartis by 46.3% during the first quarter. Bank of America Corp DE now owns 9,482 shares of the biopharmaceutical company’s stock worth $203,000 after purchasing an additional 3,001 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Versartis during the second quarter worth about $218,000. Numeric Investors LLC purchased a new stake in shares of Versartis during the second quarter worth about $246,000. Finally, Voya Investment Management LLC grew its position in shares of Versartis by 26.1% during the second quarter. Voya Investment Management LLC now owns 14,960 shares of the biopharmaceutical company’s stock worth $261,000 after purchasing an additional 3,094 shares in the last quarter. Hedge funds and other institutional investors own 49.18% of the company’s stock.

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Versartis Company Profile

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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