TESARO, Inc. (TSRO) Receives “Buy” Rating from Cann
TESARO, Inc. (NASDAQ:TSRO)‘s stock had its “buy” rating restated by analysts at Cann in a note issued to investors on Friday. They presently have a $199.00 price objective on the biopharmaceutical company’s stock. Cann’s target price indicates a potential upside of 60.57% from the company’s previous close.
The analysts wrote, “These results are an analysis of the phase I/II TOPACIO study of niraparib plus pembrolizumab in combination with pembrolizumab (Keytruda) in patients with triple negative breast cancer (TNBC) or ovarian cancer. Safety and efficacy were presented from both the dose-finding portion as well as the dose-expansion portion of the study. We believe these data released today support a path forward for Tesaro in the TNBC setting with Zejula. TNBC is a particularly challenging setting. There are many studies from numerous drug sponsors underway and TNBC, but there is no established reference standard for this disease.””
TSRO has been the topic of several other research reports. Robert W. Baird reiterated a “neutral” rating and issued a $140.00 price target (down previously from $155.00) on shares of TESARO in a research note on Thursday, August 10th. Janney Montgomery Scott set a $139.00 price target on TESARO and gave the company a “hold” rating in a research note on Saturday, June 10th. Jefferies Group LLC set a $124.00 price target on TESARO and gave the company a “hold” rating in a research note on Thursday, August 17th. Morgan Stanley reiterated an “overweight” rating and issued a $183.00 price target on shares of TESARO in a research note on Thursday, August 10th. Finally, Credit Suisse Group set a $190.00 price target on TESARO and gave the company a “buy” rating in a research note on Friday, August 18th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. TESARO currently has a consensus rating of “Buy” and an average price target of $175.52.
TESARO (NASDAQ TSRO) traded down 3.01% during trading on Friday, reaching $120.20. The company’s stock had a trading volume of 1,388,553 shares. TESARO has a 1-year low of $90.56 and a 1-year high of $192.94. The stock’s market cap is $6.51 billion. The company’s 50 day moving average price is $123.78 and its 200-day moving average price is $143.12.
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 Zacks’ consensus estimate of ($2.52) by $0.30. TESARO had a negative return on equity of 104.00% and a negative net margin of 1,301.19%. The company had revenue of $29.50 million for the quarter, compared to the consensus estimate of $18.61 million. During the same quarter last year, the business earned ($1.28) EPS. TESARO’s revenue was down 17.6% on a year-over-year basis. Equities analysts forecast that TESARO will post ($8.67) earnings per share for the current fiscal year.
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In other TESARO news, VP Edward C. English sold 10,862 shares of TESARO stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $134.92, for a total transaction of $1,465,501.04. Following the transaction, the vice president now directly owns 6,258 shares of the company’s stock, valued at approximately $844,329.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Grant C. Bogle sold 14,167 shares of TESARO stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $135.00, for a total value of $1,912,545.00. The disclosure for this sale can be found here. Insiders have sold a total of 25,100 shares of company stock worth $3,387,465 over the last ninety days. Company insiders own 40.50% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC lifted its holdings in TESARO by 0.4% during the 1st quarter. FMR LLC now owns 8,043,921 shares of the biopharmaceutical company’s stock worth $1,237,718,000 after buying an additional 32,918 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in TESARO by 16.2% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 5,584,279 shares of the biopharmaceutical company’s stock worth $559,768,000 after buying an additional 776,709 shares during the period. BlackRock Inc. lifted its holdings in TESARO by 5.7% during the 2nd quarter. BlackRock Inc. now owns 3,605,247 shares of the biopharmaceutical company’s stock worth $504,230,000 after buying an additional 195,590 shares during the period. Franklin Resources Inc. lifted its holdings in TESARO by 21.3% during the 4th quarter. Franklin Resources Inc. now owns 3,042,844 shares of the biopharmaceutical company’s stock worth $409,207,000 after buying an additional 534,851 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in TESARO by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 2,978,236 shares of the biopharmaceutical company’s stock worth $416,537,000 after buying an additional 62,104 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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