Tesaro Inc. (NASDAQ:TSRO) – Equities research analysts at Wedbush lowered their Q3 2016 earnings estimates for Tesaro in a research report issued to clients and investors on Monday. Wedbush analyst D. Nierengarten now expects that the firm will earn ($1.97) per share for the quarter, down from their prior forecast of ($1.90). Wedbush has a “Outperform” rating and a $139.00 price objective on the stock. Wedbush also issued estimates for Tesaro’s Q4 2016 earnings at ($2.01) EPS, FY2016 earnings at ($7.47) EPS, Q1 2017 earnings at ($2.00) EPS, Q2 2017 earnings at ($1.97) EPS, Q3 2017 earnings at ($2.23) EPS, Q4 2017 earnings at ($1.57) EPS, FY2017 earnings at ($7.76) EPS, FY2018 earnings at ($3.33) EPS, FY2019 earnings at $4.00 EPS and FY2020 earnings at $14.64 EPS.
Tesaro (NASDAQ:TSRO) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business earned ($1.51) EPS.
Several other brokerages have also commented on TSRO. Leerink Swann restated an “outperform” rating and set a $115.00 price target (up previously from $108.00) on shares of Tesaro in a research note on Monday. Credit Suisse Group AG restated an “outperform” rating and set a $122.00 price target (up previously from $90.00) on shares of Tesaro in a research note on Monday. Zacks Investment Research lowered Tesaro from a “hold” rating to a “sell” rating in a research note on Tuesday. Citigroup Inc. restated a “buy” rating and set a $125.00 price target (up previously from $120.00) on shares of Tesaro in a research note on Wednesday. Finally, Royal Bank Of Canada raised their price target on Tesaro from $122.00 to $128.00 and gave the company an “outperform” rating in a research note on Monday. One 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. Tesaro presently has an average rating of “Buy” and a consensus price target of $110.11.
Tesaro (NASDAQ:TSRO) opened at 116.15 on Wednesday. The company’s market cap is $5.97 billion. The firm’s 50-day moving average is $98.99 and its 200 day moving average is $70.75. Tesaro has a 1-year low of $29.51 and a 1-year high of $122.89.
In other Tesaro news, SVP Martin H. Jr. Huber sold 408 shares of the firm’s stock in a transaction on Thursday, September 22nd. The stock was 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 owns 1,250 shares of the company’s stock, valued at $135,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Edward C. English sold 7,000 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $88.54, for a total value of $619,780.00. Following the transaction, the vice president now directly owns 3,500 shares of the company’s stock, valued at approximately $309,890. The disclosure for this sale can be found here. Company insiders own 40.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Passport Capital LLC bought a new position in Tesaro during the second quarter valued at $61,720,000. FMR LLC increased its position in Tesaro by 9.6% in the second quarter. FMR LLC now owns 6,097,449 shares of the biopharmaceutical company’s stock valued at $512,490,000 after buying an additional 531,892 shares during the last quarter. Pictet Asset Management Ltd. increased its position in Tesaro by 661.3% in the second quarter. Pictet Asset Management Ltd. now owns 418,730 shares of the biopharmaceutical company’s stock valued at $19,387,000 after buying an additional 363,730 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in Tesaro during the second quarter valued at $23,685,000. Finally, Vanguard Group Inc. increased its position in Tesaro by 11.0% in the second quarter. Vanguard Group Inc. now owns 2,216,739 shares of the biopharmaceutical company’s stock valued at $186,317,000 after buying an additional 219,902 shares during the last quarter. 88.81% of the stock is owned by institutional investors.
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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