Versartis (VSAR) Trading 15.4% Higher
Versartis, Inc. (NASDAQ:VSAR) shares traded up 15.4% during mid-day trading on Friday . The company traded as high as $2.35 and last traded at $2.25. 2,574,826 shares changed hands during mid-day trading, an increase of 218% from the average session volume of 809,648 shares. The stock had previously closed at $1.95.
A number of research analysts have issued reports on the company. Cantor Fitzgerald set a $14.00 target price on Versartis and gave the company a “buy” rating in a research note on Friday, October 27th. Bank of America cut Versartis from a “buy” rating to a “neutral” rating in a research note on Monday, September 25th. Citigroup cut Versartis from a “buy” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $3.00 in a research note on Monday, September 25th. ValuEngine cut Versartis from a “sell” rating to a “strong sell” rating in a research note on Friday, September 22nd. Finally, Canaccord Genuity reissued a “buy” rating and issued a $9.00 target price (down from $28.00) on shares of Versartis in a research note on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. Versartis presently has an average rating of “Hold” and an average price target of $7.22.
The company has a debt-to-equity ratio of 0.11, a current ratio of 1.52 and a quick ratio of 1.52.
Versartis (NASDAQ:VSAR) last posted its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.78). During the same period in the prior year, the business earned ($0.92) earnings per share. sell-side analysts forecast that Versartis, Inc. will post -4.14 EPS for the current fiscal year.
In other news, major shareholder Life Sciences Maste Perceptive sold 2,130,000 shares of the company’s 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 available through this link. Insiders have sold 2,132,769 shares of company stock valued at $7,014,761 over the last ninety days. 10.90% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its holdings in 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 acquiring an additional 3,001 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in Versartis during the second quarter worth about $218,000. Numeric Investors LLC bought a new stake in Versartis during the second quarter worth about $246,000. Voya Investment Management LLC raised its holdings in 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 acquiring an additional 3,094 shares in the last quarter. Finally, State of Wisconsin Investment Board bought a new stake in Versartis during the second quarter worth about $419,000. Institutional investors and hedge funds own 49.18% of the company’s stock.
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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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