Tesaro Inc. (TSRO) Upgraded by Bank of America Corp. to Buy
Tesaro Inc. (NASDAQ:TSRO) was upgraded by Bank of America Corp. from a “neutral” rating to a “buy” rating in a research note issued on Monday.
Several other analysts have also weighed in on the company. Mizuho lifted their price objective on Tesaro from $67.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, July 5th. Citigroup Inc. lifted their price objective on Tesaro from $65.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, July 1st. Wedbush reissued a “buy” rating on shares of Tesaro in a report on Thursday, June 30th. FBR & Co reissued a “buy” rating on shares of Tesaro in a report on Thursday, June 30th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Tesaro in a report on Friday, August 5th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $101.19.
Tesaro (NASDAQ:TSRO) opened at 99.26 on Monday. The company’s market cap is $5.10 billion. Tesaro has a 1-year low of $29.51 and a 1-year high of $110.48. The stock has a 50 day moving average price of $96.42 and a 200 day moving average price of $68.96.
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Tesaro (NASDAQ:TSRO) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.71) by $0.43. The firm had revenue of $36.60 million for the quarter, compared to analyst estimates 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 quarter last year, the firm posted ($1.51) EPS. Equities analysts forecast 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 business’s 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 completion of the sale, the vice president now owns 29,166 shares in the company, valued at $2,509,442.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Martin H. Jr. Huber sold 408 shares of the business’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 sale, the senior vice president now owns 1,250 shares of the company’s stock, valued at approximately $135,150. The disclosure for this sale can be found here. 40.50% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. KCG Holdings Inc. purchased a new stake in Tesaro during the second quarter worth $228,000. Amalgamated Bank purchased a new stake in Tesaro during the second quarter worth $260,000. Quantitative Systematic Strategies LLC purchased a new stake in Tesaro during the second quarter worth $240,000. Bluestein R H & Co. purchased a new stake in Tesaro during the second quarter worth $252,000. Finally, Neuberger Berman Group LLC purchased a new stake in Tesaro during the second quarter worth $256,000. Institutional investors own 88.81% of the company’s stock.
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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