Tesaro Inc. (TSRO) Earns “Buy” Rating from Citigroup Inc.
Tesaro Inc. (NASDAQ:TSRO)‘s stock had its “buy” rating reissued by research analysts at Citigroup Inc. in a research report issued on Wednesday. They currently have a $125.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $120.00. Citigroup Inc.’s price objective would suggest a potential upside of 8.38% from the stock’s current price.
Several other research analysts have also recently issued reports on the company. Bank of America Corp. initiated coverage on Tesaro in a report on Tuesday, August 30th. They issued a “neutral” rating and a $97.00 price target on the stock. FBR & Co upped their price target on Tesaro from $102.00 to $115.00 and gave the company an “outperform” rating in a report on Monday. Mizuho upped their price target on Tesaro from $67.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, July 5th. Robert W. Baird initiated coverage on Tesaro in a report on Monday, July 18th. They issued an “outperform” rating and a $105.00 price target on the stock. Finally, Jefferies Group cut Tesaro from a “buy” rating to a “hold” rating and upped their price target for the company from $53.00 to $75.00 in a report on Thursday, June 30th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company’s stock. Tesaro presently has a consensus rating of “Buy” and a consensus target price of $110.11.
Shares of Tesaro (NASDAQ:TSRO) opened at 115.33 on Wednesday. Tesaro has a one year low of $29.51 and a one year high of $122.89. The firm’s 50-day moving average price is $97.53 and its 200 day moving average price is $70.11. The stock’s market cap is $5.92 billion.
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Tesaro (NASDAQ:TSRO) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.71) by $0.43. The company had revenue of $36.60 million for 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 quarter in the prior year, the company earned ($1.51) earnings per share. Equities research analysts expect that Tesaro will post ($7.36) EPS for the current fiscal year.
In related news, 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 sale, the vice president now directly owns 3,500 shares in the company, valued at $309,890. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Martin H. Jr. Huber sold 408 shares of the company’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $108.12, for a total transaction of $44,112.96. Following the completion of the sale, the senior vice president now owns 1,250 shares of the company’s stock, valued at $135,150. The disclosure for this sale can be found here. 40.50% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the company. KCG Holdings Inc. acquired a new stake in shares of Tesaro during the second quarter worth about $228,000. Amalgamated Bank acquired a new stake in shares of Tesaro during the second quarter worth about $260,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of Tesaro during the second quarter worth about $240,000. Bluestein R H & Co. acquired a new stake in shares of Tesaro during the second quarter worth about $252,000. Finally, Neuberger Berman Group LLC acquired a new stake in shares of Tesaro during the second quarter worth about $256,000. 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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