Citigroup Inc. reaffirmed their buy rating on shares of Tesaro Inc. (NASDAQ:TSRO) in a research report released on Wednesday morning. Citigroup Inc. currently has a $125.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $120.00.
Several other analysts have also commented on TSRO. Zacks Investment Research lowered shares of Tesaro from a hold rating to a sell rating in a research report on Wednesday, June 15th. FBR & Co lifted their price target on shares of Tesaro from $65.00 to $93.00 and gave the company an outperform rating in a research report on Wednesday, June 29th. Jefferies Group lowered Tesaro from a buy rating to a hold rating and boosted their target price 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 boosted their target price on Tesaro from $65.00 to $95.00 and gave the company an outperform rating in a research report on Thursday, June 30th. Finally, Mizuho reissued an outperform rating and issued a $67.00 target price on shares of Tesaro in a research report on Thursday, June 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $110.11.
Tesaro (NASDAQ:TSRO) traded down 0.09% during mid-day trading on Wednesday, hitting $114.67. The stock had a trading volume of 167,151 shares. Tesaro has a 52-week low of $29.51 and a 52-week high of $122.89. The firm has a 50-day moving average of $98.16 and a 200-day moving average of $70.43. The stock’s market cap is $5.89 billion.
Tesaro (NASDAQ:TSRO) last released its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.71) by $0.43. The firm had revenue of $36.60 million for the quarter, compared to analyst estimates 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 previous year, the company earned ($1.51) EPS. On average, analysts forecast that Tesaro will post ($7.36) EPS for the current fiscal year.
In other Tesaro news, SVP Martin H. Jr. Huber sold 408 shares of the company’s stock in a transaction on Thursday, September 22nd. The shares were 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 owns 1,250 shares in the company, valued at $135,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jeffrey H. Hanke sold 29,166 shares of the company’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $86.04, for a total transaction of $2,509,442.64. Following the completion of the transaction, the vice president now owns 29,166 shares of the company’s stock, valued at approximately $2,509,442.64. The disclosure for this sale can be found here. Corporate insiders own 40.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Tocqueville Asset Management L.P. increased its position in Tesaro by 28.8% in the second quarter. Tocqueville Asset Management L.P. now owns 31,750 shares of the biopharmaceutical company’s stock valued at $2,669,000 after buying an additional 7,100 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new position in Tesaro during the second quarter valued at about $240,000. Smith Asset Management Group LP bought a new position in Tesaro during the second quarter valued at about $406,000. Parametrica Management Ltd increased its position in Tesaro by 144.9% in the second quarter. Parametrica Management Ltd now owns 13,988 shares of the biopharmaceutical company’s stock valued at $1,176,000 after buying an additional 8,277 shares in the last quarter. Finally, BNP Paribas Arbitrage SA bought a new position in Tesaro during the second quarter valued at about $941,000. Institutional investors own 88.81% of the company’s stock.
Tesaro Company Profile
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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