FBR & Co Boosts Tesaro Inc. (TSRO) Price Target to $115.00
Tesaro Inc. (NASDAQ:TSRO) had its price objective boosted by equities research analysts at FBR & Co from $102.00 to $115.00 in a research note issued on Monday, StockTargetPrices.com reports. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. FBR & Co’s price objective points to a potential upside of 15.86% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the stock. Mizuho increased their target price on shares of Tesaro from $67.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, July 5th. Citigroup Inc. raised their price target on shares of Tesaro from $65.00 to $90.00 and gave the company a “buy” rating in a report on Friday, July 1st. Wedbush restated a “buy” rating on shares of Tesaro in a report on Thursday, June 30th. Credit Suisse Group AG restated a “buy” rating on shares of Tesaro in a report on Friday, August 5th. Finally, Lake Street Capital restated a “buy” rating and set a $114.00 price target on shares of Tesaro in a report on Tuesday, September 6th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Tesaro presently has an average rating of “Buy” and a consensus price target of $95.97.
Shares of Tesaro (NASDAQ:TSRO) opened at 99.26 on Monday. The stock has a 50 day moving average of $96.42 and a 200-day moving average of $68.96. Tesaro has a 52 week low of $29.51 and a 52 week high of $110.48. The firm’s market cap is $5.10 billion.
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Tesaro (NASDAQ:TSRO) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.71) by $0.43. Tesaro had a negative net margin of 783.97% and a negative return on equity of 205.63%. The company earned $36.60 million during the quarter, compared to the consensus estimate of $4.98 million. During the same quarter in the prior year, the firm earned ($1.51) EPS. Equities research analysts expect that Tesaro will post ($7.36) earnings per share for the current year.
In other Tesaro news, VP Jeffrey H. Hanke sold 29,166 shares of the firm’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $86.04, for a total value of $2,509,442.64. Following the sale, the vice president now directly owns 29,166 shares in the company, valued at approximately $2,509,442.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Martin H. Jr. Huber sold 408 shares of the firm’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $108.12, for a total transaction of $44,112.96. Following the completion of the sale, the senior vice president now owns 1,250 shares in the company, valued at $135,150. The disclosure for this sale can be found here. 40.50% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the company. IFP Advisors Inc raised its stake in Tesaro by 109.6% in the second quarter. IFP Advisors Inc now owns 4,208 shares of the biopharmaceutical company’s stock valued at $354,000 after buying an additional 2,200 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Tesaro by 24.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 107,043 shares of the biopharmaceutical company’s stock valued at $8,997,000 after buying an additional 20,750 shares in the last quarter. Amalgamated Bank bought a new stake in Tesaro during the second quarter valued at about $260,000. Metropolitan Life Insurance Co. NY raised its stake in Tesaro by 3.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 19,006 shares of the biopharmaceutical company’s stock valued at $1,597,000 after buying an additional 637 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new stake in Tesaro during the second quarter valued at about $3,584,000. Institutional investors own 88.81% of the company’s stock.
Tesaro Company Profile
TESARO, Inc is an oncology-focused biopharmaceutical company. The Company acquires, in-licenses and develops oncology product candidates. It operates in business of developing and commercializing oncology-focused therapeutics segment. It has in-licensed and are developing oncology-related product candidates, including intravenous (IV) rolapitant and niraparib, as well as product candidates under its immuno-oncology platform.
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