TESARO, Inc. (TSRO) Rating Reiterated by Wedbush
TESARO, Inc. (NASDAQ:TSRO)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wedbush in a research note issued to investors on Monday. They currently have a $160.00 price target on the biopharmaceutical company’s stock. Wedbush’s target price indicates a potential upside of 34.82% from the company’s previous close.
Several other brokerages have also recently commented on TSRO. Oppenheimer Holdings, Inc. assumed coverage on shares of TESARO in a research report on Thursday, May 25th. They issued an “outperform” rating and a $183.00 price target for the company. Cann reissued an “outperform” rating on shares of TESARO in a research report on Wednesday, May 24th. Credit Suisse Group set a $198.00 price target on shares of TESARO and gave the company a “buy” rating in a research report on Monday, June 5th. FBR & Co decreased their price target on shares of TESARO from $200.00 to $195.00 and set a “mkt perform” rating for the company in a research report on Monday, June 5th. Finally, ValuEngine raised shares of TESARO from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $175.15.
TESARO (NASDAQ:TSRO) traded down 1.36% during mid-day trading on Monday, hitting $118.68. 791,530 shares of the stock traded hands. The stock has a 50-day moving average price of $123.28 and a 200-day moving average price of $142.28. TESARO has a 12 month low of $90.56 and a 12 month high of $192.94. The stock’s market cap is $6.43 billion.
TESARO (NASDAQ:TSRO) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($2.82) earnings per share 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 analysts’ expectations of $18.61 million. During the same period in the previous year, the business posted ($1.28) EPS. The business’s revenue for the quarter was down 17.6% on a year-over-year basis. On average, equities analysts forecast that TESARO will post ($8.67) earnings per share for the current year.
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In other TESARO news, VP Grant C. Bogle sold 14,167 shares of TESARO stock in a transaction on Friday, September 1st. The shares were sold at an average price of $135.00, for a total value of $1,912,545.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Edward C. English sold 10,862 shares of TESARO stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $134.92, for a total transaction of $1,465,501.04. Following the completion of the transaction, the vice president now owns 6,258 shares in the company, valued at $844,329.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,100 shares of company stock worth $3,387,465. 34.60% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Vident Investment Advisory LLC acquired a new position in TESARO in the first quarter valued at $351,000. Botty Investors LLC acquired a new position in TESARO in the second quarter valued at $140,000. Meeder Asset Management Inc. acquired a new position in TESARO in the first quarter valued at $177,000. Nordea Investment Management AB acquired a new position in TESARO in the second quarter valued at $167,000. Finally, Oppenheimer Asset Management Inc. increased its stake in TESARO by 3,042.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 1,477 shares of the biopharmaceutical company’s stock valued at $206,000 after purchasing an additional 1,430 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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