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VSAR

Versartis

$21.60

-0.25 (-1.14%)

05:49
09/22/17
09/22
05:49
09/22/17
05:49

Versartis downgraded to Market Perform, price target slashed to $3 at Cowen

Cowen analyst Ken Cacciatore downgraded Versartis to Market Perform from Outperform and slashed its price target to $3 from $45 following the VELOCITY trial failure. The analyst removed somavaratan from his valuation and said shares will now trade based on proforma cash levels.

VSAR Versartis
$21.60

-0.25 (-1.14%)

09/08/17
PIPR
09/08/17
NO CHANGE
Target $26
PIPR
Overweight
Piper says own Versartis into Phase III data later this month
Piper Jaffray analyst Edward Tenthoff recommends owning shares of Versartis into the Phase III Velocity data on somavaratan in pediatric growth hormone deficiency due by the end of September. The analyst continues to expect somavaratan to demonstrate non-inferior height velocity within the 2cm lower confidence interval to daily growth hormone at one year. Even if somavaratan produces numerically lower height velocity to daily growth hormone, this would be a win since less frequent dosing should result in higher real-world compliance and growth, Tenthoff tells investors in a research note. He reiterates an Overweight rating on Versartis with a $26 price target.
09/22/17
PIPR
09/22/17
DOWNGRADE
Target $4
PIPR
Neutral
Versartis downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Edward Tenthoff downgraded Versartis to Neutral citing an uncertain future for somavaratan after the Phase III Velocity trial patients missed non-inferior height velocity. Should Versartis conduct another Phase III pediatric growth hormone deficiency trial, the analyst expects delayed approval timelines by at least two years. He cut his price target for the shares to $4 from $26.
09/22/17
LEHM
09/22/17
DOWNGRADE
Target $4
LEHM
Underweight
Versartis downgraded to Underweight from Overweight at Barclays
Barclays analyst Geoff Meacham double downgraded Versartis to Underweight from Overweight and cut his price target for the shares to $4 from $28 after the Phase 3 Velocity trial of somavaratan missed its primary endpoint. The analyst does not see a path forward for the pediatric program and sees minimal residual value to the adult program. Piper Jafray this morning also downgraded Versartis.
09/22/17
WELS
09/22/17
NO CHANGE
Target $51
WELS
Outperform
Versartis failure bodes well for Ascendis Pharma, says Wells Fargo
Wells Fargo analyst Jim Birchenough reiterates an Outperform rating on Ascendis Pharma (ASND) after its competitor Versartis (VSAR) announced last night that its long-acting recombinant human growth hormone, somavaratan, failed to meet the primary endpoint of non-inferiority in a Phase 3 study in pediatric growth hormone deficiency. The analyst continues to see a "high likelihood of success" for Ascendis Pharma's unmodified TransCon GH, which he says appears superior to both somavaratan and short acting growth hormone. Birchenough has a $51 price target on Ascendis shares. The stock last night in after-hours trading jumped 42%, or $11.66, to $39.40.

TODAY'S FREE FLY STORIES

NAVI

Navient

$12.20

0.47 (4.01%)

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CMG

Chipotle

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UNH

UnitedHealth

$203.89

10.69 (5.53%)

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Amazon.com

$1,009.13

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UNH

UnitedHealth

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Amazon.com

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AAN

Aaron's

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BMTC

Bryn Mawr Bank

$44.50

-0.1 (-0.22%)

, FCF

First Commonwealth

$13.94

-0.26 (-1.83%)

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BMTC

Bryn Mawr Bank

$44.50

-0.1 (-0.22%)

FCF

First Commonwealth

$13.94

-0.26 (-1.83%)

ONB

Old National Bancorp

$18.40

-0.05 (-0.27%)

03/08/13
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HCC

Warrior Met Coal

$24.04

0.51 (2.17%)

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MOH

Molina Healthcare

$61.54

1.68 (2.81%)

, UNH

UnitedHealth

$203.89

10.69 (5.53%)

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Periodicals
Health insurers prepare for enrollment drop amid ACA uncertainty, WSJ says »

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MOH

Molina Healthcare

$61.54

1.68 (2.81%)

UNH

UnitedHealth

$203.89

10.69 (5.53%)

CNC

Centene

$93.80

2.88 (3.17%)

WCG

WellCare

$174.03

6.11 (3.64%)

CI

Cigna

$187.20

2.21 (1.19%)

ANTM

Anthem

$187.26

3.5 (1.90%)

HNT

Health Net

HUM

Humana

$240.43

3.26 (1.37%)

AET

Aetna

$155.90

4.46 (2.95%)

EHTH

eHealth

$23.79

-0.61 (-2.50%)

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IBM

IBM

$146.54

-0.29 (-0.20%)

07:12
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  • 22

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NVO

Novo Nordisk

$49.31

-0.01 (-0.02%)

07:12
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Conference/Events
FDA Endocrinologic & Metabolic Drugs Advisory Committee to hold a meeting »

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  • 18

    Oct

TSLA

Tesla

$355.75

5.15 (1.47%)

07:11
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Periodicals
Tesla employees claim dismissals not performance related, CNBC reports »

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  • 06

    Nov

ATTU

Attunity

$6.90

0.12 (1.77%)

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  • 16

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MYGN

Myriad Genetics

$35.84

-0.26 (-0.72%)

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  • 30

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MAIN

Main Street

$40.07

-0.1 (-0.25%)

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  • 03

    Nov

JNJ

Johnson & Johnson

$140.79

4.67 (3.43%)

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IONS

Ionis Pharmaceuticals

$63.85

2.7 (4.42%)

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  • 18

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LRCX

Lam Research

$194.55

2.19 (1.14%)

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IMRN

Immuron

$5.03

0.1 (2.03%)

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BLRX

BioLineRx

$1.09

-0.065 (-5.63%)

, RHHBY

Roche

$31.45

0.27 (0.87%)

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BLRX

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$1.09

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RHHBY

Roche

$31.45

0.27 (0.87%)

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CEVA

CEVA

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0.1 (0.22%)

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  • 01

    Nov

LRCX

Lam Research

$194.55

2.19 (1.14%)

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TTOO

T2 Biosystems

$4.21

-0.05 (-1.17%)

07:05
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  • 02

    Nov

HNHPF

Hon Hai Precision

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Foxconn, IDG Capital seek $1.5B for auto tech fund, Bloomberg reports »

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BRO

Brown & Brown

$49.01

0.04 (0.08%)

07:04
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Brown & Brown announces asset acquisition of Lapeyre, Staples & Robichaux »

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