Tesaro’s (TSRO) Outperform Rating Reaffirmed at Leerink Swann
Tesaro Inc. (NASDAQ:TSRO)‘s stock had its “outperform” rating reiterated by stock analysts at Leerink Swann in a research report issued on Monday. They currently have a $115.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $108.00. Leerink Swann’s price objective indicates a potential downside of 4.39% from the company’s current price.
A number of other research firms have also recently commented on TSRO. Mizuho restated an “outperform” rating and issued a $67.00 price objective on shares of Tesaro in a research report on Thursday, June 30th. Lake Street Capital reaffirmed a “buy” rating and issued a $114.00 price target on shares of Tesaro in a research note on Tuesday, September 6th. Robert W. Baird lifted their price target on Tesaro to $120.00 in a research note on Monday. FBR & Co reaffirmed a “buy” rating on shares of Tesaro in a research note on Thursday, June 30th. Finally, Wells Fargo & Co. reaffirmed an “outperform” rating on shares of Tesaro in a research note on Thursday, June 30th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Tesaro has an average rating of “Buy” and an average target price of $107.90.
Tesaro (NASDAQ:TSRO) traded up 22.58% during mid-day trading on Monday, reaching $121.67. The company’s stock had a trading volume of 3,565,792 shares. Tesaro has a 12-month low of $29.51 and a 12-month high of $122.89. The firm’s 50 day moving average price is $96.42 and its 200 day moving average price is $68.96. The stock’s market cap is $6.25 billion.
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Tesaro (NASDAQ:TSRO) last posted its quarterly earnings data 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. The business earned $36.60 million during the quarter, compared to analysts’ expectations of $4.98 million. Tesaro had a negative return on equity of 205.63% and a negative net margin of 783.97%. During the same period in the previous year, the business earned ($1.51) earnings per share. On average, equities analysts predict that Tesaro will post ($7.36) earnings per share for the current year.
In other news, VP Jeffrey H. Hanke sold 29,166 shares of the company’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $86.04, for a total value of $2,509,442.64. Following the transaction, the vice president now owns 29,166 shares of the company’s stock, valued at approximately $2,509,442.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 insiders.
Several institutional investors have recently made changes to their positions in TSRO. FMR LLC increased its stake 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. Vanguard Group Inc. increased its stake 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. BlackRock Fund Advisors increased its stake in Tesaro by 8.2% in the second quarter. BlackRock Fund Advisors now owns 1,399,709 shares of the biopharmaceutical company’s stock valued at $117,646,000 after buying an additional 105,803 shares in the last quarter. State Street Corp increased its stake in Tesaro by 12.9% in the second quarter. State Street Corp now owns 1,008,667 shares of the biopharmaceutical company’s stock valued at $84,777,000 after buying an additional 114,918 shares in the last quarter. Finally, Passport Capital LLC purchased a new stake in Tesaro during the second quarter valued at about $61,720,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.
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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