TESARO, Inc. (NASDAQ:TSRO) had its price objective reduced by equities research analysts at Cowen and Company from $145.00 to $124.00 in a research report issued to clients and investors on Monday. The firm currently has a “market perform” rating on the biopharmaceutical company’s stock. Cowen and Company’s target price suggests a potential downside of 12.65% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Wedbush restated an “outperform” rating and set a $168.00 price target (up previously from $160.00) on shares of TESARO in a research report on Tuesday, June 13th. Wells Fargo & Company restated an “outperform” rating on shares of TESARO in a research report on Monday, June 12th. Janney Montgomery Scott set a $139.00 price target on TESARO and gave the company a “hold” rating in a research report on Saturday, June 10th. Robert W. Baird restated a “neutral” rating on shares of TESARO in a research report on Tuesday, June 6th. Finally, Credit Suisse Group set a $198.00 price target on TESARO and gave the company a “buy” rating in a research report on Monday, June 5th. Nine analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. TESARO currently has an average rating of “Buy” and an average price target of $173.32.

Analyst Recommendations for TESARO (NASDAQ:TSRO)

Shares of TESARO (NASDAQ:TSRO) traded down 0.94% during midday trading on Monday, reaching $142.96. The company had a trading volume of 3,687,060 shares. The company has a 50 day moving average of $145.90 and a 200 day moving average of $151.16. The company’s market capitalization is $7.70 billion. TESARO has a one year low of $36.71 and a one year high of $192.94.

TESARO (NASDAQ:TSRO) last released its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($2.55) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($2.26) by $0.29. TESARO had a negative net margin of 910.35% and a negative return on equity of 96.49%. The firm had revenue of $3.10 million for the quarter, compared to analysts’ expectations of $3.84 million. During the same quarter in the previous year, the business earned ($2.22) EPS. The company’s revenue for the quarter was up 909.8% on a year-over-year basis. Analysts predict that TESARO will post ($8.74) EPS for the current fiscal year.

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In related news, SVP Martin H. Jr. Huber sold 829 shares of the firm’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $153.02, for a total value of $126,853.58. Following the sale, the senior vice president now directly owns 6,522 shares of the company’s stock, valued at $997,996.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Edward C. English sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $138.65, for a total value of $1,178,525.00. Following the completion of the sale, the vice president now directly owns 5,396 shares in the company, valued at $748,155.40. The disclosure for this sale can be found here. 34.60% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Vident Investment Advisory LLC purchased a new stake in TESARO during the first quarter valued at $351,000. Meeder Asset Management Inc. purchased a new stake in TESARO during the first quarter valued at $177,000. Soros Fund Management LLC purchased a new stake in TESARO during the first quarter valued at $262,000. Stephens Inc. AR boosted its stake in TESARO by 11.0% in the first quarter. Stephens Inc. AR now owns 1,759 shares of the biopharmaceutical company’s stock valued at $271,000 after buying an additional 175 shares during the last quarter. Finally, First Citizens Bank & Trust Co. purchased a new stake in TESARO during the first quarter valued at $288,000.

TESARO Company Profile

TESARO, Inc is an oncology-focused biopharmaceutical company. The Company operates through the business of developing and commercializing of oncology-focused therapeutics segment. It is developing oncology-related product candidates, including rolapitant, niraparib and the product candidates under its immuno-oncology platform.

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