Leerink Swann Weighs in on Tesaro Inc.’s FY2020 Earnings (TSRO)
Tesaro Inc. (NASDAQ:TSRO) – Research analysts at Leerink Swann increased their FY2020 EPS estimates for Tesaro in a report issued on Sunday. Leerink Swann analyst S. Fernandez now anticipates that the brokerage will earn $9.47 per share for the year, up from their prior estimate of $8.88. Leerink Swann currently has a “Outperform” rating and a $115.00 target price on the stock.
Tesaro (NASDAQ:TSRO) last released its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.71) by $0.43. The firm earned $36.60 million during 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 period in the previous year, the company posted ($1.51) EPS.
Several other research analysts have also commented on TSRO. SunTrust Banks Inc. restated a “buy” rating and set a $91.60 price target on shares of Tesaro in a research report on Wednesday, September 14th. RBC Capital Markets reiterated an “outperform” rating and issued a $122.00 price objective on shares of Tesaro in a research note on Wednesday, August 24th. Bank of America Corp. began coverage on Tesaro in a research note on Tuesday, August 30th. They issued a “neutral” rating and a $97.00 price objective on the stock. Citigroup Inc. raised their price target on Tesaro from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, July 1st. Finally, FBR & Co restated a “buy” rating on shares of Tesaro in a research note on Thursday, June 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the stock. Tesaro has an average rating of “Buy” and a consensus price target of $109.76.
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Shares of Tesaro (NASDAQ:TSRO) traded down 2.19% on Tuesday, reaching $115.33. The company had a trading volume of 1,696,552 shares. The firm’s market capitalization is $5.92 billion. Tesaro has a 12 month low of $29.51 and a 12 month high of $122.89. The firm’s 50 day moving average is $97.07 and its 200 day moving average is $69.78.
In related news, VP Edward C. English sold 7,000 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $88.54, for a total transaction of $619,780.00. Following the sale, the vice president now owns 3,500 shares in the company, valued at $309,890. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jeffrey H. Hanke sold 29,166 shares of the stock in a transaction dated 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 sale, the vice president now owns 29,166 shares in the company, valued at approximately $2,509,442.64. The disclosure for this sale can be found here. 40.50% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of 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 during the last quarter. Vanguard Group Inc. boosted its position 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 during the period. BlackRock Fund Advisors boosted its position 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 during the period. State Street Corp boosted its position 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 during the period. Finally, Passport Capital LLC bought a new position in Tesaro during the second quarter valued at about $61,720,000. Hedge funds and other 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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