Tesaro Inc. (TSRO) Upgraded at Bank of America Corp.
Tesaro Inc. (NASDAQ:TSRO) was upgraded by equities researchers at Bank of America Corp. from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday. The firm presently has a $123.00 target price on the biopharmaceutical company’s stock. Bank of America Corp.’s target price would indicate a potential upside of 2.26% from the stock’s previous close.
TSRO has been the subject of a number of other reports. SunTrust Banks Inc. reissued 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 reissued an “outperform” rating and set a $122.00 price objective on shares of Tesaro in a research report on Wednesday, August 24th. Leerink Swann reissued an “outperform” rating and set a $108.00 price objective on shares of Tesaro in a research report on Thursday, August 25th. Citigroup Inc. raised their target price on Tesaro from $65.00 to $90.00 and gave the company a “buy” rating in a report on Friday, July 1st. Finally, FBR & Co restated a “buy” rating on shares of Tesaro in a report on Thursday, June 30th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $109.76.
Tesaro (NASDAQ:TSRO) traded up 19.35% during mid-day trading on Monday, reaching $118.47. 5,301,731 shares of the company were exchanged. Tesaro has a 1-year low of $29.51 and a 1-year high of $122.89. The stock’s 50-day moving average price is $96.42 and its 200-day moving average price is $68.96. The stock’s market capitalization is $6.09 billion.
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Tesaro (NASDAQ:TSRO) last issued its quarterly earnings data 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. The firm earned $36.60 million during the quarter, compared to the consensus estimate 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 last year, the company earned ($1.51) EPS. On average, equities research analysts anticipate that Tesaro will post ($7.36) EPS for the current fiscal year.
In other news, VP Jeffrey H. Hanke sold 29,166 shares of the business’s stock in a transaction that occurred 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 $2,509,442.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Martin H. Jr. Huber sold 408 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $108.12, for a total value of $44,112.96. Following the completion of the transaction, the senior vice president now directly owns 1,250 shares in the company, valued at approximately $135,150. The disclosure for this sale can be found here. Company insiders own 40.50% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KCG Holdings Inc. bought a new position in Tesaro during the second quarter worth about $228,000. Amalgamated Bank bought a new position in Tesaro during the second quarter worth about $260,000. Quantitative Systematic Strategies LLC bought a new position in Tesaro during the second quarter worth about $240,000. Bluestein R H & Co. bought a new position in Tesaro during the second quarter worth about $252,000. Finally, Neuberger Berman Group LLC bought a new position in Tesaro during the second quarter worth about $256,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.
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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