Royal Bank Of Canada Raises Tesaro Inc. (TSRO) Price Target to $128.00
Tesaro Inc. (NASDAQ:TSRO) had its price objective lifted by equities research analysts at Royal Bank Of Canada from $122.00 to $128.00 in a note issued to investors on Monday. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 28.95% from the stock’s current price.
Several other analysts have also weighed in on the stock. Bank of America Corp. started coverage on shares of Tesaro in a report on Tuesday, August 30th. They set a “neutral” rating and a $97.00 price objective for the company. FBR & Co raised their price objective on shares of Tesaro from $65.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, June 29th. Citigroup Inc. raised their price objective on shares of Tesaro from $90.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, August 8th. Mizuho raised their price target on shares of Tesaro from $67.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, July 5th. Finally, Robert W. Baird started coverage on shares of Tesaro in a report on Monday, July 18th. They issued an “outperform” rating and a $105.00 price target for the company. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $101.19.
Shares of Tesaro (NASDAQ:TSRO) opened at 99.26 on Monday. The firm’s 50-day moving average is $96.42 and its 200 day moving average is $68.96. Tesaro has a 52 week low of $29.51 and a 52 week high of $110.48. The firm’s market capitalization is $5.10 billion.
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Tesaro (NASDAQ:TSRO) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.71) by $0.43. The company earned $36.60 million during the quarter, compared to analyst estimates of $4.98 million. Tesaro had a negative net margin of 783.97% and a negative return on equity of 205.63%. During the same quarter last year, the business posted ($1.51) earnings per share. Equities research analysts forecast that Tesaro will post ($7.36) EPS for the current fiscal year.
In other news, VP Edward C. English sold 7,000 shares of Tesaro stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $88.54, for a total transaction of $619,780.00. Following the transaction, the vice president now directly owns 3,500 shares of the company’s stock, valued at $309,890. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Jeffrey H. Hanke sold 29,166 shares of Tesaro stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $86.04, for a total transaction of $2,509,442.64. Following the transaction, the vice president now directly owns 29,166 shares in the company, valued at $2,509,442.64. The disclosure for this sale can be found here. Insiders own 40.50% of the company’s stock.
Several institutional investors have recently made changes to their positions in TSRO. IFP Advisors Inc boosted its position in shares of Tesaro by 109.6% in the second quarter. IFP Advisors Inc now owns 4,208 shares of the biopharmaceutical company’s stock worth $354,000 after buying an additional 2,200 shares in the last quarter. Schwab Charles Investment Management Inc. boosted 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 approximately $260,000. Metropolitan Life Insurance Co. NY boosted 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 approximately $3,584,000. 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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