Tesaro Inc. (NASDAQ:TSRO) had its target price hoisted by FBR & Co from $102.00 to $115.00 in a research note issued to investors on Monday morning. They currently have an outperform rating on the biopharmaceutical company’s stock.
A number of other analysts have also recently commented on TSRO. Zacks Investment Research cut shares of Tesaro from a hold rating to a sell rating in a research report on Wednesday, June 15th. Jefferies Group cut shares of Tesaro from a buy rating to a hold rating and upped their price target for the company from $53.00 to $75.00 in a research report on Thursday, June 30th. They noted that the move was a valuation call. Leerink Swann upped their price target on shares of Tesaro from $65.00 to $95.00 and gave the company an outperform rating in a research report on Thursday, June 30th. Mizuho reaffirmed an outperform rating and set a $67.00 price target on shares of Tesaro in a research report on Thursday, June 30th. Finally, Wells Fargo & Co. reaffirmed an outperform rating on shares of Tesaro in a research report on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $110.11.
Tesaro (NASDAQ:TSRO) opened at 114.77 on Monday. The firm’s 50-day moving average price is $98.16 and its 200 day moving average price is $70.43. The company’s market capitalization is $5.90 billion. Tesaro has a 12-month low of $29.51 and a 12-month high of $122.89.
Tesaro (NASDAQ:TSRO) last issued its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.71) by $0.43. The business had revenue of $36.60 million for the quarter, compared to analysts’ expectations of $4.98 million. Tesaro had a negative net margin of 783.97% and a negative return on equity of 205.63%. During the same quarter in the prior year, the firm posted ($1.51) earnings per share. On average, analysts expect that Tesaro will post ($7.36) earnings per share for the current year.
In related news, VP Jeffrey H. Hanke sold 29,166 shares of the firm’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $86.04, for a total value of $2,509,442.64. Following the transaction, the vice president now owns 29,166 shares of the company’s stock, valued at approximately $2,509,442.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Martin H. Jr. Huber sold 408 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $108.12, for a total transaction of $44,112.96. Following the completion of the transaction, the senior vice president now directly owns 1,250 shares in the company, valued at approximately $135,150. The disclosure for this sale can be found here. 40.50% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in TSRO. BlackRock Fund Advisors boosted its position in shares of Tesaro by 1.8% in the first quarter. BlackRock Fund Advisors now owns 1,293,906 shares of the biopharmaceutical company’s stock valued at $56,971,000 after buying an additional 23,384 shares during the last quarter. BlackRock Inc. boosted its position in shares of Tesaro by 13.3% in the first quarter. BlackRock Inc. now owns 7,096 shares of the biopharmaceutical company’s stock valued at $312,000 after buying an additional 834 shares during the last quarter. venBio Select Advisor LLC acquired a new position in shares of Tesaro during the first quarter valued at $6,605,000. Pictet Asset Management Ltd. boosted its position in shares of Tesaro by 35.8% in the first quarter. Pictet Asset Management Ltd. now owns 55,000 shares of the biopharmaceutical company’s stock valued at $2,225,000 after buying an additional 14,500 shares during the last quarter. Finally, Emerald Acquisition Ltd. acquired a new position in shares of Tesaro during the second quarter valued at $23,685,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.
TESARO, Inc is an oncology-focused biopharmaceutical company. The Company acquires, in-licenses and develops oncology product candidates. It operates in business of developing and commercializing oncology-focused therapeutics segment. It has in-licensed and are developing oncology-related product candidates, including intravenous (IV) rolapitant and niraparib, as well as product candidates under its immuno-oncology platform.
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