TESARO, Inc. (TSRO) Research Coverage Started at Evercore ISI
Analysts at Evercore ISI assumed coverage on shares of TESARO, Inc. (NASDAQ:TSRO) in a report issued on Wednesday, The Fly reports. The brokerage set a $121.00 price target on the biopharmaceutical company’s stock. Evercore ISI’s price objective would suggest a potential upside of 7.09% from the stock’s current price.
Several other research firms have also commented on TSRO. Cann reiterated a “buy” rating and set a $199.00 price objective on shares of TESARO in a research note on Monday, June 5th. Robert W. Baird reiterated a “neutral” rating and set a $140.00 price objective (down previously from $155.00) on shares of TESARO in a research note on Thursday, August 10th. Cowen and Company reduced their price objective on shares of TESARO from $145.00 to $124.00 and set a “market perform” rating for the company in a research note on Monday, June 19th. Citigroup Inc. reiterated a “buy” rating and set a $216.00 price objective (down previously from $232.00) on shares of TESARO in a research note on Saturday, April 22nd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $183.00 price objective on shares of TESARO in a research note on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. TESARO currently has an average rating of “Buy” and an average target price of $173.83.
TESARO (NASDAQ TSRO) traded down 0.89% during trading on Wednesday, reaching $112.99. 657,306 shares of the company were exchanged. The stock’s market capitalization is $6.12 billion. TESARO has a 1-year low of $83.26 and a 1-year high of $192.94. The company’s 50-day moving average price is $128.57 and its 200-day moving average price is $148.68.
TESARO (NASDAQ:TSRO) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($2.82) EPS for the quarter, missing the consensus estimate of ($2.52) by $0.30. The firm had revenue of $29.50 million for the quarter, compared to the consensus estimate of $18.61 million. TESARO had a negative return on equity of 104.00% and a negative net margin of 1,301.19%. The company’s revenue was down 17.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.28) EPS. On average, equities analysts forecast that TESARO will post ($8.74) EPS for the current year.
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In other news, VP Edward C. English sold 8,500 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $138.65, for a total value of $1,178,525.00. Following the sale, the vice president now directly owns 5,396 shares of the company’s stock, valued at approximately $748,155.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 34.60% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in TSRO. FMR LLC increased its stake in TESARO by 0.4% in the first quarter. FMR LLC now owns 8,043,921 shares of the biopharmaceutical company’s stock valued at $1,237,718,000 after buying an additional 32,918 shares during the period. BlackRock Inc. increased its stake in TESARO by 5.7% in the second quarter. BlackRock Inc. now owns 3,605,247 shares of the biopharmaceutical company’s stock valued at $504,230,000 after buying an additional 195,590 shares during the period. Vanguard Group Inc. increased its stake in TESARO by 2.1% in the second quarter. Vanguard Group Inc. now owns 2,978,236 shares of the biopharmaceutical company’s stock valued at $416,537,000 after buying an additional 62,104 shares during the period. State Street Corp increased its stake in TESARO by 17.9% in the second quarter. State Street Corp now owns 1,168,913 shares of the biopharmaceutical company’s stock valued at $163,496,000 after buying an additional 177,057 shares during the period. Finally, BB Biotech AG increased its stake in TESARO by 6.5% in the second quarter. BB Biotech AG now owns 877,990 shares of the biopharmaceutical company’s stock valued at $122,796,000 after buying an additional 53,408 shares during the period.
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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