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Rennova Health and Versartis Have Different Reasons for Optimism

NEW YORK, NY / ACCESSWIRE / March 22, 2017 / Rennova Health and Versartis have caught the attention of biotech investors for very different reasons. In a week where biotech stocks have not performed very well overall, these two companies have investors wondering what is going on behind the scenes. Recently, Versartis has appointed a new Chief Commercial Officer, while Rennova has made a significant move to bring financial stability to the company. This is a situation where the immediate stock price movements may not tell the whole story of the future of the company.

RDI Initiates Coverage:

Rennova Health Inc.

https://ub.rdinvesting.com/news/?ticker=RNVA

Versartis Inc.

https://ub.rdinvesting.com/news/?ticker=VSAR

Rennova stock has been on a 5-day wild ride, with the stock closing at $1.87 per share, up 6 cents on Tuesday. Its March 13th price of $2.12 has been challenged over the past week, in part due to the financial restructuring announced the following day. Back on March 1st of this year, the stock fell to its lowest point of 2017, closing at $1.65. The company, which is into the healthcare support and services field, the financial move to buy $15,794,500 worth of original issue discount amortizing convertible debentures is expected the proceeds of the purchase to repay select short term debts and liabilities. The purchase will also include payment of debt to Chris Diamantis, the company’s Director, who will be repaid. Another current debt, to TCA Global Credit Master Fund, LP, will be resolved through a partial retirement of the debt combined with a restructuring of the remaining balance over a six-month period.

Access RDI’s Rennova Health Research Report at: https://ub.rdinvesting.com/news/?ticker=RNVA

The stock price of Versartis closed at $19.70, down 90 cents a share. The company is involved with an HGH recombinant drug, somavaratan, that is designed to treat children and adults who have growth hormone deficiency. In a recent company news on March 15th, Tracy Woody has been appointed to act as Chief Commercial Officer for the company. Rumors abound in investor circles, as the company’s stock has seen unusually high stock volume over the past week, with selling from company directors and other senior managements. Recently on March 9th, Barclays initiated coverage on the stock with “overweight” ratings, whereas majority of research firms assigned favorable rating to the company. Zacks has assigned “buy” rating to Versartis in early January, and Piper Jaffray assigned “buy” ratings in late January of this year.

Access RDI’s Versartis Research Report at: https://ub.rdinvesting.com/news/?ticker=VSAR

Our Actionable Research on Rennova Health Inc. (NASDAQ: RNVA) and Versartis Inc. (NASDAQ: VSAR) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, a CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com

ReleaseID: 457917

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