Royal Bank Of Canada Boosts Tesaro Inc. (TSRO) Price Target to $128.00
Tesaro Inc. (NASDAQ:TSRO) had its price target boosted by research analysts at Royal Bank Of Canada from $122.00 to $128.00 in a note issued to investors on Monday. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 28.95% from the stock’s previous close.
A number of other brokerages also recently commented on TSRO. FBR & Co lifted their target price on Tesaro from $102.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday. Bank of America Corp. upgraded Tesaro from a “neutral” rating to a “buy” rating in a research report on Monday. SunTrust Banks Inc. reiterated a “buy” rating and set a $91.60 price objective on shares of Tesaro in a research report on Wednesday, September 14th. RBC Capital Markets initiated coverage on Tesaro in a research report on Friday, August 12th. They set an “outperform” rating and a $122.00 price objective for the company. Finally, Citigroup Inc. boosted their price objective on Tesaro from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, August 8th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Tesaro currently has a consensus rating of “Buy” and an average price target of $101.19.
Tesaro (NASDAQ:TSRO) opened at 99.26 on Monday. Tesaro has a 52-week low of $29.51 and a 52-week high of $110.48. The stock’s market cap is $5.10 billion. The firm’s 50-day moving average price is $96.42 and its 200 day moving average price is $68.96.
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Tesaro (NASDAQ:TSRO) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.71) by $0.43. Tesaro had a negative return on equity of 205.63% and a negative net margin of 783.97%. The company earned $36.60 million during the quarter, compared to the consensus estimate of $4.98 million. During the same period in the previous year, the firm posted ($1.51) earnings per share. Equities analysts predict that Tesaro will post ($7.36) earnings per share for the current year.
In other Tesaro news, SVP Martin H. Jr. Huber sold 408 shares of the company’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $108.12, for a total value of $44,112.96. Following the transaction, the senior vice president now owns 1,250 shares of the company’s stock, valued at $135,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Edward C. English sold 7,000 shares of the company’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $88.54, for a total value of $619,780.00. Following the completion of the transaction, the vice president now directly owns 3,500 shares in the company, valued at approximately $309,890. The disclosure for this sale can be found here. 40.50% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Passport Capital LLC bought a new position in Tesaro during the second quarter valued at about $61,720,000. FMR LLC boosted its position in Tesaro by 9.6% in the second quarter. FMR LLC now owns 6,097,449 shares of the biopharmaceutical company’s stock valued at $512,490,000 after buying an additional 531,892 shares in the last quarter. Pictet Asset Management Ltd. boosted its position in Tesaro by 661.3% in the second quarter. Pictet Asset Management Ltd. now owns 418,730 shares of the biopharmaceutical company’s stock valued at $19,387,000 after buying an additional 363,730 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in Tesaro during the second quarter valued at about $23,685,000. Finally, Vanguard Group Inc. boosted its position in Tesaro by 11.0% in the second quarter. Vanguard Group Inc. now owns 2,216,739 shares of the biopharmaceutical company’s stock valued at $186,317,000 after buying an additional 219,902 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.
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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