TESARO, Inc. (TSRO) Given Outperform Rating at Wedbush
Wedbush reiterated their outperform rating on shares of TESARO, Inc. (NASDAQ:TSRO) in a research note issued to investors on Saturday morning. They currently have a $166.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $139.00.
TSRO has been the subject of several other reports. Citigroup Inc. reissued a buy rating and issued a $125.00 price objective (up from $120.00) on shares of TESARO in a report on Wednesday, October 12th. Leerink Swann reissued an outperform rating and issued a $115.00 price objective (up from $108.00) on shares of TESARO in a report on Monday, October 10th. Bank of America Corporation raised TESARO from a neutral rating to a buy rating and set a $123.00 price objective for the company in a report on Monday, October 10th. Credit Suisse Group set a $151.00 price objective on TESARO and gave the company a buy rating in a report on Thursday. Finally, Zacks Investment Research downgraded TESARO from a hold rating to a sell rating in a report on Tuesday, October 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $122.40.
TESARO (NASDAQ:TSRO) opened at 156.41 on Friday. TESARO has a 12-month low of $29.51 and a 12-month high of $157.77. The stock’s 50 day moving average is $134.61 and its 200 day moving average is $107.12. The stock’s market capitalization is $8.08 billion.
TESARO (NASDAQ:TSRO) last announced its quarterly earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($1.98) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.92) by $0.06. The company earned $3.73 million during the quarter, compared to analysts’ expectations of $4.39 million. TESARO had a negative net margin of 798.68% and a negative return on equity of 141.88%. The business’s revenue for the quarter was up 4187.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.66) earnings per share. Equities research analysts forecast that TESARO will post ($7.41) EPS for the current fiscal year.
In other news, SVP Martin H. Jr. Huber sold 327 shares of the firm’s stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $121.29, for a total value of $39,661.83. Following the completion of the transaction, the senior vice president now owns 1,842 shares in the company, valued at $223,416.18. The sale was disclosed in a document filed with the SEC, which is available at this link. 40.50% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its position in shares of TESARO by 9.6% in the second quarter. FMR LLC now owns 6,097,449 shares of the biopharmaceutical company’s stock worth $512,490,000 after buying an additional 531,892 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of TESARO by 16.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 5,584,279 shares of the biopharmaceutical company’s stock worth $559,768,000 after buying an additional 776,709 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of TESARO by 11.0% in the second quarter. Vanguard Group Inc. now owns 2,216,739 shares of the biopharmaceutical company’s stock worth $186,317,000 after buying an additional 219,902 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of TESARO by 9.6% in the third quarter. BlackRock Fund Advisors now owns 1,533,499 shares of the biopharmaceutical company’s stock worth $153,718,000 after buying an additional 133,790 shares in the last quarter. Finally, State Street Corp boosted its position in shares of TESARO by 12.9% in the second quarter. State Street Corp now owns 1,008,667 shares of the biopharmaceutical company’s stock worth $84,777,000 after buying an additional 114,918 shares in the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.
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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