Bank of America Corp. upgraded shares of Tesaro Inc. (NASDAQ:TSRO) from a neutral rating to a buy rating in a research report report published on Monday morning. The firm currently has $123.00 price objective on the biopharmaceutical company’s stock.
A number of other analysts have also issued reports on TSRO. Zacks Investment Research lowered Tesaro from a hold rating to a sell rating in a report on Wednesday, June 15th. FBR & Co boosted their price target on Tesaro from $65.00 to $93.00 and gave the company an outperform rating in a report on Wednesday, June 29th. Jefferies Group lowered Tesaro from a buy rating to a hold rating and boosted their price target for the company from $53.00 to $75.00 in a report on Thursday, June 30th. They noted that the move was a valuation call. Leerink Swann boosted their price target on Tesaro from $65.00 to $95.00 and gave the company an outperform rating in a report on Thursday, June 30th. Finally, Mizuho reiterated an outperform rating and issued a $67.00 price target on shares of Tesaro in a report on Thursday, June 30th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of Buy and an average price target of $109.76.
Shares of Tesaro (NASDAQ:TSRO) traded down 1.43% during trading on Monday, reaching $116.22. The company’s stock had a trading volume of 309,512 shares. Tesaro has a 12-month low of $29.51 and a 12-month high of $122.89. The company has a 50 day moving average of $97.07 and a 200 day moving average of $69.78. The company’s market cap is $5.97 billion.
Tesaro (NASDAQ:TSRO) last announced 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. Tesaro had a negative return on equity of 205.63% and a negative net margin of 783.97%. The business earned $36.60 million during the quarter, compared to analyst estimates of $4.98 million. During the same quarter in the previous year, the business earned ($1.51) earnings per share. On average, analysts anticipate that Tesaro will post ($7.36) EPS for the current fiscal year.
In related news, VP Edward C. English sold 7,000 shares of the company’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 transaction 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 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 directly owns 1,250 shares in the company, valued at $135,150. The disclosure for this sale can be found here. 40.50% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in TSRO. Tocqueville Asset Management L.P. increased its stake in shares of 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 stake in shares of Tesaro during the second quarter valued at $240,000. Smith Asset Management Group LP bought a new stake in shares of Tesaro during the second quarter valued at $406,000. Parametrica Management Ltd increased its stake in shares of 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 stake in shares of Tesaro during the second quarter valued at $941,000. 88.81% of the stock is currently owned by hedge funds and other 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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