$121.33 Million in Sales Expected for TESARO, Inc. (TSRO) This Quarter
Brokerages forecast that TESARO, Inc. (NASDAQ:TSRO) will announce $121.33 million in sales for the current quarter, according to Zacks. Eight analysts have issued estimates for TESARO’s earnings. The lowest sales estimate is $33.60 million and the highest is $162.60 million. TESARO posted sales of $3.73 million during the same quarter last year, which suggests a positive year-over-year growth rate of 3,152.8%. The company is scheduled to report its next quarterly earnings report on Thursday, November 2nd.
On average, analysts expect that TESARO will report full year sales of $121.33 million for the current year, with estimates ranging from $108.10 million to $280.80 million. For the next year, analysts forecast that the business will report sales of $482.17 million per share, with estimates ranging from $312.94 million to $636.60 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow TESARO.
TESARO (NASDAQ:TSRO) last released its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($2.82) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.52) by ($0.30). The firm had revenue of $29.50 million during the quarter, compared to analyst estimates of $18.61 million. TESARO had a negative net margin of 1,301.19% and a negative return on equity of 104.00%. The firm’s quarterly revenue was down 17.6% on a year-over-year basis. During the same period last year, the business posted ($1.28) earnings per share.
A number of analysts have weighed in on the company. Gabelli assumed coverage on TESARO in a report on Friday, July 7th. They set a “buy” rating and a $175.00 price target for the company. Credit Suisse Group set a $190.00 price target on TESARO and gave the stock a “buy” rating in a report on Friday, August 18th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $235.00 price target on shares of TESARO in a report on Sunday, August 20th. Cann reiterated a “buy” rating and set a $199.00 price target on shares of TESARO in a report on Friday, September 8th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $216.00 price target on shares of TESARO in a report on Monday, September 11th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $170.19.
Shares of TESARO (TSRO) opened at 116.40 on Friday. The firm’s market capitalization is $6.31 billion. TESARO has a 52 week low of $106.64 and a 52 week high of $192.94. The company’s 50 day moving average price is $120.86 and its 200-day moving average price is $132.79.
In other TESARO news, SVP Martin H. Jr. Huber sold 592 shares of TESARO stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $118.60, for a total transaction of $70,211.20. Following the completion of the transaction, the senior vice president now owns 6,943 shares in the company, valued at approximately $823,439.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James O. Armitage sold 10,000 shares of TESARO stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $117.13, for a total value of $1,171,300.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $1,171,300. The disclosure for this sale can be found here. Insiders have sold a total of 35,692 shares of company stock valued at $4,628,976 in the last quarter. Company insiders own 40.50% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Exane Derivatives acquired a new position in TESARO during the 3rd quarter valued at about $106,000. Botty Investors LLC bought a new position in shares of TESARO during the 2nd quarter worth approximately $140,000. Nordea Investment Management AB bought a new position in shares of TESARO during the 2nd quarter worth approximately $167,000. Oppenheimer Asset Management Inc. lifted its position in shares of TESARO by 3,042.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,477 shares of the biopharmaceutical company’s stock worth $206,000 after buying an additional 1,430 shares in the last quarter. Finally, BB&T Securities LLC bought a new position in shares of TESARO during the 2nd quarter worth approximately $222,000.
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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