Tesaro Inc. (NASDAQ:TSRO) – Equities research analysts at SunTrust Banks cut their FY2017 earnings per share estimates for shares of Tesaro in a report released on Tuesday. SunTrust Banks analyst P. Lawson now anticipates that the firm will earn ($6.88) per share for the year, down from their prior estimate of ($6.78). SunTrust Banks has a “Buy” rating and a $91.60 price target on the stock. SunTrust Banks also issued estimates for Tesaro’s FY2018 earnings at ($3.23) EPS and FY2020 earnings at $6.00 EPS.
Tesaro (NASDAQ:TSRO) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.71) by $0.43. Tesaro had a negative return on equity of 205.63% and a negative net margin of 783.97%. The firm earned $36.60 million during the quarter, compared to analyst estimates of $4.98 million. During the same period in the prior year, the company posted ($1.51) earnings per share.
Several other research analysts have also weighed in on the company. Bank of America Corp. started coverage on Tesaro in a research report on Tuesday, August 30th. They set a “neutral” rating and a $97.00 price target on the stock. FBR & Co boosted their price target on Tesaro from $65.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 29th. Citigroup Inc. lifted their target price on Tesaro from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, August 8th. Mizuho lifted their target price on Tesaro from $67.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, July 5th. Finally, Robert W. Baird started coverage on Tesaro in a research note on Monday, July 18th. They set an “outperform” rating and a $105.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Tesaro has an average rating of “Buy” and a consensus price target of $94.40.
Tesaro (NASDAQ:TSRO) opened at 100.24 on Friday. The firm’s market capitalization is $5.15 billion. Tesaro has a 1-year low of $29.51 and a 1-year high of $110.48. The firm’s 50-day moving average price is $95.75 and its 200 day moving average price is $66.93.
A number of institutional investors have recently made changes to their positions in the stock. Pacad Investment Ltd. bought a new position in shares of Tesaro during the first quarter valued at $626,000. 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 in the last quarter. BlackRock Group LTD boosted its position in Tesaro by 7.9% in the first quarter. BlackRock Group LTD now owns 162,499 shares of the biopharmaceutical company’s stock worth $7,154,000 after buying an additional 11,880 shares during the period. BlackRock Fund Advisors boosted its position in Tesaro by 1.8% in the first quarter. BlackRock Fund Advisors now owns 1,293,906 shares of the biopharmaceutical company’s stock worth $56,971,000 after buying an additional 23,384 shares during the period. Finally, State Street Corp boosted its position in Tesaro by 0.7% in the first quarter. State Street Corp now owns 893,749 shares of the biopharmaceutical company’s stock worth $39,349,000 after buying an additional 6,026 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.
In other Tesaro news, SVP Martin H. Jr. Huber sold 408 shares of Tesaro stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $108.12, for a total value of $44,112.96. Following the completion of the transaction, the senior vice president now directly owns 1,250 shares of the company’s stock, valued at approximately $135,150. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Edward C. English sold 7,000 shares of Tesaro stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $88.54, for a total value of $619,780.00. Following the completion of the transaction, the vice president now directly owns 3,500 shares of the company’s stock, valued at $309,890. The disclosure for this sale can be found here. 40.50% of the stock is owned by company insiders.
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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