Tesaro Inc. (TSRO) Hits New 12-Month High Following Analyst Upgrade
Shares of Tesaro Inc. (NASDAQ:TSRO) reached a new 52-week high during trading on Monday after Robert W. Baird raised their price target on the stock to $120.00. The stock traded as high as $122.89 and last traded at $119.78, with a volume of 4,087,721 shares changing hands. The stock had previously closed at $99.26.
Several other research firms have also commented on TSRO. Mizuho reaffirmed an “outperform” rating and set a $67.00 price target on shares of Tesaro in a research report on Thursday, June 30th. Lake Street Capital reiterated a “buy” rating and issued a $114.00 target price on shares of Tesaro in a report on Tuesday, September 6th. FBR & Co reiterated a “buy” rating on shares of Tesaro in a report on Thursday, June 30th. Wells Fargo & Co. reiterated an “outperform” rating on shares of Tesaro in a report on Thursday, June 30th. Finally, Zacks Investment Research upgraded shares of Tesaro from a “sell” rating to a “hold” rating in a report on Tuesday, July 5th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $107.90.
In related news, VP Jeffrey H. Hanke sold 29,166 shares of the business’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 completion of the sale, the vice president now directly owns 29,166 shares of the company’s stock, valued at $2,509,442.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Martin H. Jr. Huber sold 408 shares of the business’s stock in a transaction on Thursday, September 22nd. The shares were 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 directly owns 1,250 shares of the company’s stock, valued at $135,150. The disclosure for this sale can be found here. Corporate insiders own 40.50% of the company’s stock.
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A number of large investors have recently made changes to their positions in TSRO. BlackRock Fund Advisors boosted its stake in shares of Tesaro by 1.8% in the first quarter. BlackRock Fund Advisors now owns 1,293,906 shares of the biopharmaceutical company’s stock worth $56,971,000 after buying an additional 23,384 shares during the period. BlackRock Inc. boosted its stake in shares of Tesaro by 13.3% in the first quarter. BlackRock Inc. now owns 7,096 shares of the biopharmaceutical company’s stock worth $312,000 after buying an additional 834 shares during the period. venBio Select Advisor LLC bought a new stake in shares of Tesaro during the first quarter worth $6,605,000. Pictet Asset Management Ltd. boosted its stake in shares of Tesaro by 35.8% in the first quarter. Pictet Asset Management Ltd. now owns 55,000 shares of the biopharmaceutical company’s stock worth $2,225,000 after buying an additional 14,500 shares during the period. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Tesaro during the second quarter worth $23,685,000. 88.81% of the stock is owned by hedge funds and other institutional investors.
The firm’s 50 day moving average price is $96.42 and its 200 day moving average price is $68.96. The company’s market capitalization is $6.10 billion.
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 net margin of 783.97% and a negative return on equity of 205.63%. The business had revenue of $36.60 million for the quarter, compared to the consensus estimate of $4.98 million. During the same quarter last year, the firm posted ($1.51) EPS. Equities analysts predict that Tesaro Inc. will post ($7.36) EPS for the current year.
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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