Leerink Swann Analysts Raise Earnings Estimates for Tesaro Inc. (TSRO)
Tesaro Inc. (NASDAQ:TSRO) – Equities researchers at Leerink Swann boosted their FY2017 earnings estimates for shares of Tesaro in a report issued on Sunday. Leerink Swann analyst S. Fernandez now forecasts that the firm will earn ($5.25) per share for the year, up from their prior forecast of ($5.38). Leerink Swann has a “Outperform” rating and a $115.00 price objective on the stock. Leerink Swann also issued estimates for Tesaro’s FY2018 earnings at $0.10 EPS and FY2019 earnings at $4.87 EPS.
Tesaro (NASDAQ:TSRO) last announced its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.71) by $0.43. Tesaro had a negative return on equity of 205.63% and a negative net margin of 783.97%. The company earned $36.60 million during the quarter, compared to analyst estimates of $4.98 million. During the same period last year, the company posted ($1.51) earnings per share.
A number of other research analysts have also commented on TSRO. Citigroup Inc. reaffirmed a “buy” rating and issued a $125.00 price objective (up from $120.00) on shares of Tesaro in a report on Wednesday. Zacks Investment Research lowered Tesaro from a “hold” rating to a “sell” rating in a report on Tuesday. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $122.00 price objective (up from $90.00) on shares of Tesaro in a report on Monday. Robert W. Baird upped their price objective on Tesaro from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Monday. Finally, RBC Capital Markets upped their target price on Tesaro from $122.00 to $128.00 and gave the company an “outperform” rating in a research report on Monday. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $110.11.
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Shares of Tesaro (NASDAQ:TSRO) traded down 0.47% during mid-day trading on Wednesday, hitting $114.79. The stock had a trading volume of 881,289 shares. The stock’s 50-day moving average price is $97.53 and its 200 day moving average price is $70.11. The company’s market capitalization is $5.90 billion. Tesaro has a 1-year low of $29.51 and a 1-year high of $122.89.
Institutional investors have recently bought and sold shares of the stock. BlackRock Fund Advisors increased its position in Tesaro by 1.8% in the first quarter. BlackRock Fund Advisors now owns 1,293,906 shares of the biopharmaceutical company’s stock valued at $56,971,000 after buying an additional 23,384 shares in the last quarter. BlackRock Inc. increased its position in Tesaro by 13.3% in the first quarter. BlackRock Inc. now owns 7,096 shares of the biopharmaceutical company’s stock valued at $312,000 after buying an additional 834 shares in the last quarter. venBio Select Advisor LLC purchased a new position in Tesaro during the first quarter valued at approximately $6,605,000. Pictet Asset Management Ltd. increased its position in Tesaro by 35.8% in the first quarter. Pictet Asset Management Ltd. now owns 55,000 shares of the biopharmaceutical company’s stock valued at $2,225,000 after buying an additional 14,500 shares in the last quarter. Finally, Emerald Acquisition Ltd. purchased a new position in Tesaro during the second quarter valued at approximately $23,685,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.
In other Tesaro news, SVP Martin H. Jr. Huber sold 408 shares of the stock in a transaction dated Thursday, September 22nd. The stock was 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 $135,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jeffrey H. Hanke sold 29,166 shares of the stock in a transaction dated 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 transaction, the vice president now owns 29,166 shares of the company’s stock, valued at $2,509,442.64. The disclosure for this sale can be found here. 40.50% of the stock is owned by company insiders.
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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