Published: Sat, September 23, 2017
Business | By Max Garcia

Versartis crashes after Phase 3 miss

Versartis crashes after Phase 3 miss

The value of the total investment in Versartis, Inc. increased from $477,000 to $1,518,000 a change of 218.2% quarter to quarter. Last quarter, Versartis recorded a net loss of about $37 million and used roughly $57 million in net cash to fund operating activities. 97,944 are owned by Emory University. Moreover, Connor Clark & Lunn Mgmt has 0% invested in Versartis Inc (NASDAQ:VSAR). Baker Bros Advsrs Limited Partnership invested in 1.66M shares. The Luxembourg-based Artal Group Sa has invested 0.11% in Versartis Inc (NASDAQ:VSAR). Versartis has a 52-week low of $2.60 and a 52-week high of $24.00. Credit Suisse Ag has 25,462 shares. Jacobs Levy Equity Management owns 41,678 shares. National Bank Of Montreal Can stated it has 0% in Versartis Inc (NASDAQ:VSAR). State Street stated it has 0% of its portfolio in Versartis Inc (NASDAQ:VSAR). Millennium Mngmt Ltd invested in 153,345 shares or 0% of the stock. Shares for $11,412 were sold by Westberg Paul.

A number of other research firms have also weighed in on VSAR.

Analysts await Versartis Inc (NASDAQ:VSAR) to report earnings on November, 2. This target by Canaccord Genuity indicates the possibile upside of 237.08 % from the previous close. On September 22 Canaccord Genuity held the stock rating at "Buy" and moved down the price target from $20.00 to $9.00. Therefore 89% are positive. After having $-1.04 EPS previously, Versartis Inc's analysts see -34.62 % EPS growth. Versartis Inc had 24 analyst reports since August 13, 2015 according to SRatingsIntel. The rating was initiated by Northland Capital on Thursday, April 7 with "Outperform". Cantor Fitzgerald maintained the stock with "Buy" rating in Thursday, July 27 report. As per Friday, September 8, the company rating was maintained by Piper Jaffray. Finally, Cowen and Company reiterated an outperform rating and set a $45.00 price target on shares of Versartis in a research report on Wednesday, August 23rd.

Despite Intercept's fundamental concerns and the stock's poor performance lately, 10 of the 15 brokerages covering ICPT rate the shares a "strong buy" or "buy".

On September 22 the stock rating was downgraded to "Neutral" from "Overweight" by PiperJaffray. The firm has "Buy" rating by Piper Jaffray given on Tuesday, June 27.

Versartis, Inc. (NASDAQ:VSAR) was downgraded by equities research analysts at SunTrust Banks, Inc. from a "buy" rating to a "hold" rating in a report released on Friday. The stock has "Neutral" rating by Piper Jaffray on Thursday, September 3.

The stock decreased 87.62% or $18.93 on September 22, reaching $2.67. 40,104,166 shares of the company's stock traded hands. Versartis Inc (NASDAQ:VSAR) has risen 103.18% since September 23, 2016 and is uptrending.

Versartis (NASDAQ:VSAR) last issued its earnings results on Thursday, July 27th. They expect $-0.68 earnings per share, up 26.09% or $0.24 from last year's $-0.92 per share. Finally, Sectoral Asset Management Inc acquired a new position in shares of Versartis in the second quarter valued at approximately $1,828,000.

Both of these companies are focused on GHD, and with Versartis going back to the drawing board, Ascendis might not have any real competition. The company has market cap of $372.67 million. The Company is involved in developing a long-acting form of recombinant human growth hormone, somavaratan (VRS-317), for growth hormone deficiency (GHD), an orphan disease. It now has negative earnings. (VSAR) are down more than 86 percent this morning after the company said its experimental human growth hormone somavaratan failed to meet endpoints in a critical Phase III trial.

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