Tesaro Inc. Forecasted to Earn FY2016 Earnings of ($7.09) Per Share (TSRO)
Tesaro Inc. (NASDAQ:TSRO) – SunTrust Banks lifted their FY2016 earnings per share (EPS) estimates for shares of Tesaro in a report released on Thursday. SunTrust Banks analyst P. Lawson now anticipates that the firm will post earnings of ($7.09) per share for the year, up from their prior forecast of ($7.18). SunTrust Banks has a “Buy” rating and a $91.60 price target on the stock.
Tesaro (NASDAQ:TSRO) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, beating the consensus estimate of ($1.71) by $0.43. The company earned $36.60 million during the quarter, compared to analyst estimates of $4.98 million. Tesaro had a negative net margin of 783.97% and a negative return on equity of 205.63%. During the same quarter in the previous year, the business posted ($1.51) EPS.
Other research analysts have also issued research reports about the company. Robert W. Baird assumed coverage on Tesaro in a report on Monday, July 18th. They set an “outperform” rating and a $105.00 price objective for the company. Royal Bank Of Canada started coverage on Tesaro in a research note on Friday, August 12th. They issued an “outperform” rating and a $122.00 target price for the company. FBR & Co upped their target price on Tesaro from $65.00 to $93.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 29th. RBC Capital Markets upped their target price on Tesaro from $122.00 to $128.00 and gave the stock an “outperform” rating in a research note on Monday, October 10th. Finally, Mizuho reaffirmed an “outperform” rating and issued a $67.00 target price on shares of Tesaro in a research note on Thursday, June 30th. 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 stock. Tesaro presently has a consensus rating of “Buy” and a consensus price target of $110.11.
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Shares of Tesaro (NASDAQ:TSRO) opened at 115.05 on Monday. Tesaro has a 1-year low of $29.51 and a 1-year high of $122.89. The company’s market cap is $5.91 billion. The stock has a 50 day moving average of $99.84 and a 200 day moving average of $71.24.
Institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors increased its position in shares of Tesaro by 1.8% in the first quarter. BlackRock Fund Advisors now owns 1,293,906 shares of the biopharmaceutical company’s stock worth $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 worth $312,000 after buying an additional 834 shares during the period. venBio Select Advisor LLC purchased a new position in Tesaro during the first quarter worth about $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 worth $2,225,000 after buying an additional 14,500 shares during the period. Finally, Emerald Acquisition Ltd. purchased a new position in Tesaro during the second quarter worth about $23,685,000. Institutional investors own 88.81% of the company’s stock.
In related news, VP Jeffrey H. Hanke sold 29,166 shares of the company’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 transaction of $2,509,442.64. Following the completion of the transaction, the vice president now owns 29,166 shares in the company, valued at $2,509,442.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Martin H. Jr. Huber sold 408 shares of the company’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 transaction, 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. Corporate insiders own 40.50% of the company’s stock.
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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