Versartis Inc. (NASDAQ:VSAR) Director Srinivas Akkaraju acquired 571,429 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was bought at an average price of $12.25 per share, with a total value of $7,000,005.25. Following the acquisition, the director now directly owns 11,475 shares of the company’s stock, valued at approximately $140,568.75. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.
Versartis Inc. (NASDAQ:VSAR) opened at 12.17 on Wednesday. Versartis Inc. has a 52-week low of $6.17 and a 52-week high of $14.69. The stock’s 50 day moving average price is $12.89 and its 200 day moving average price is $10.57. The firm’s market capitalization is $359.51 million.
Versartis (NASDAQ:VSAR) last issued its earnings results on Thursday, July 28th. The biopharmaceutical company reported ($0.75) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.03. On average, analysts predict that Versartis Inc. will post ($2.76) EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. Oxford Asset Management raised its stake in shares of Versartis by 28.9% in the second quarter. Oxford Asset Management now owns 80,989 shares of the biopharmaceutical company’s stock worth $896,000 after buying an additional 18,169 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Versartis during the first quarter worth approximately $916,000. Spark Investment Management LLC raised its stake in shares of Versartis by 35.5% in the first quarter. Spark Investment Management LLC now owns 49,440 shares of the biopharmaceutical company’s stock worth $396,000 after buying an additional 12,940 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Versartis by 7.7% in the first quarter. Geode Capital Management LLC now owns 140,495 shares of the biopharmaceutical company’s stock worth $1,126,000 after buying an additional 9,987 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Versartis by 8.8% in the first quarter. State Street Corp now owns 347,718 shares of the biopharmaceutical company’s stock worth $2,787,000 after buying an additional 28,154 shares during the last quarter. 69.09% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently commented on VSAR. Piper Jaffray Cos. assumed coverage on Versartis in a report on Tuesday. They issued an “overweight” rating and a $22.00 price objective for the company. Canaccord Genuity set a $28.00 price target on Versartis and gave the stock a “buy” rating in a report on Saturday, September 17th. Zacks Investment Research upgraded Versartis from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Wednesday, August 3rd. Citigroup Inc. set a $23.00 price target on Versartis and gave the stock a “buy” rating in a report on Thursday, August 11th. Finally, Credit Suisse Group AG restated a “sell” rating and issued a $9.00 price target on shares of Versartis in a report on Friday, July 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $19.20.
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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