Zacks: Analysts Expect Versartis, Inc. (VSAR) Will Post Earnings of -$1.05 Per Share

Brokerages forecast that Versartis, Inc. (NASDAQ:VSAR) will post ($1.05) earnings per share for the current quarter, according to Zacks. Zero analysts have made estimates for Versartis’ earnings, with the lowest EPS estimate coming in at ($1.22) and the highest estimate coming in at ($0.88). Versartis reported earnings of ($0.64) per share in the same quarter last year, which would indicate a negative year over year growth rate of 64.1%. The company is expected to issue its next earnings results on Tuesday, February 20th.

According to Zacks, analysts expect that Versartis will report full-year earnings of ($4.14) per share for the current year, with EPS estimates ranging from ($4.17) to ($4.10). For the next financial year, analysts expect that the firm will post earnings of ($2.93) per share, with EPS estimates ranging from ($4.50) to ($1.13). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Versartis.

Versartis (NASDAQ:VSAR) last announced its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by ($0.78). During the same quarter last year, the business posted ($0.92) EPS.

Several equities research analysts have weighed in on VSAR shares. Cantor Fitzgerald set a $14.00 target price on shares of Versartis and gave the stock a “buy” rating in a report on Friday, October 27th. Canaccord Genuity reiterated a “buy” rating and issued a $9.00 target price (down from $28.00) on shares of Versartis in a report on Friday, September 22nd. Morgan Stanley reiterated an “equal weight” rating and issued a $4.00 target price (up from $3.00) on shares of Versartis in a report on Friday, September 22nd. Barclays lowered shares of Versartis from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $28.00 to $4.00 in a report on Friday, September 22nd. Finally, SunTrust Banks lowered shares of Versartis from a “buy” rating to a “hold” rating and cut their target price for the stock from $25.00 to $4.00 in a report on Friday, September 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $5.63.

In related news, Director Srinivas Akkaraju acquired 419,700 shares of the stock in a transaction dated Friday, December 1st. The stock was bought at an average price of $2.13 per share, with a total value of $893,961.00. Following the completion of the transaction, the director now directly owns 14,955 shares of the company’s stock, valued at $31,854.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 2,769 shares of company stock valued at $7,061 in the last three months. 10.90% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Orbimed Advisors LLC bought a new stake in shares of Versartis during the third quarter worth $123,000. Jane Street Group LLC bought a new stake in shares of Versartis during the third quarter worth $319,000. Artal Group S.A. increased its position in shares of Versartis by 14.3% during the third quarter. Artal Group S.A. now owns 400,000 shares of the biopharmaceutical company’s stock worth $980,000 after acquiring an additional 50,000 shares in the last quarter. First Quadrant L P CA increased its position in shares of Versartis by 1,253.8% during the third quarter. First Quadrant L P CA now owns 120,500 shares of the biopharmaceutical company’s stock worth $295,000 after acquiring an additional 111,599 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its position in shares of Versartis by 26.5% during the second quarter. Lord Abbett & CO. LLC now owns 319,854 shares of the biopharmaceutical company’s stock worth $5,582,000 after acquiring an additional 66,977 shares in the last quarter. 49.18% of the stock is owned by institutional investors.

Versartis (NASDAQ VSAR) traded down $0.02 on Tuesday, reaching $2.13. 335,054 shares of the company’s stock traded hands, compared to its average volume of 669,050. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $76.99, a price-to-earnings ratio of -0.54 and a beta of 2.36. Versartis has a 12 month low of $1.60 and a 12 month high of $24.00.

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Versartis Company Profile

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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