Zacks: Brokerages Expect TESARO, Inc. (TSRO) Will Announce Quarterly Sales of $17.22 Million
Wall Street analysts predict that TESARO, Inc. (NASDAQ:TSRO) will announce $17.22 million in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have issued estimates for TESARO’s earnings. The lowest sales estimate is $10.77 million and the highest is $24.67 million. TESARO posted sales of $36.56 million in the same quarter last year, which suggests a negative year over year growth rate of 52.9%. The business is expected to report its next earnings report on Thursday, August 3rd.
On average, analysts expect that TESARO will report full-year sales of $17.22 million for the current fiscal year, with estimates ranging from $67.34 million to $196.00 million. For the next fiscal year, analysts anticipate that the firm will report sales of $430.43 million per share, with estimates ranging from $231.30 million to $554.79 million. Zacks’ sales averages are an average based on a survey of analysts that follow TESARO.
TESARO (NASDAQ:TSRO) last released its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($2.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.26) by $0.29. The firm had revenue of $3.10 million for the quarter, compared to the consensus estimate of $3.84 million. TESARO had a negative return on equity of 96.49% and a negative net margin of 910.35%. The company’s revenue was up 909.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.22) EPS.
A number of brokerages have weighed in on TSRO. Piper Jaffray Companies began coverage on TESARO in a report on Wednesday, April 12th. They set an “overweight” rating and a $180.00 price target for the company. Cowen and Company reiterated a “market perform” rating and set a $145.00 price target on shares of TESARO in a report on Tuesday, March 28th. Cann reiterated a “buy” rating and set a $199.00 price target on shares of TESARO in a report on Monday, June 5th. FBR & Co reiterated a “hold” rating on shares of TESARO in a report on Monday, April 3rd. Finally, Citigroup Inc. reiterated a “buy” rating and set a $216.00 price target (down from $232.00) on shares of TESARO in a report on Saturday, April 22nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. TESARO presently has an average rating of “Buy” and a consensus price target of $173.74.
TESARO (NASDAQ:TSRO) traded up 4.03% on Thursday, reaching $129.02. The company’s stock had a trading volume of 932,011 shares. The firm’s 50-day moving average price is $139.60 and its 200-day moving average price is $151.77. TESARO has a 52-week low of $83.26 and a 52-week high of $192.94. The stock’s market cap is $6.95 billion.
In other TESARO news, VP Edward C. English sold 8,500 shares of TESARO stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $138.65, for a total transaction of $1,178,525.00. Following the completion of the transaction, the vice president now owns 5,396 shares in the company, valued at approximately $748,155.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 40.50% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. bought a new position in TESARO during the first quarter worth about $177,000. Fox Run Management L.L.C. purchased a new position in TESARO during the second quarter valued at approximately $224,000. Private Capital Advisors Inc. purchased a new position in TESARO during the second quarter valued at approximately $232,000. Capstone Asset Management Co. purchased a new position in TESARO during the second quarter valued at approximately $238,000. Finally, Soros Fund Management LLC purchased a new position in TESARO during the first quarter valued at approximately $262,000.
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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