SunTrust Banks Comments on Tesaro Inc.’s FY2017 Earnings (TSRO)
Tesaro Inc. (NASDAQ:TSRO) – Equities researchers at SunTrust Banks reduced their FY2017 earnings per share estimates for shares of Tesaro in a research note issued on Tuesday. SunTrust Banks analyst P. Lawson now forecasts that the firm will post earnings of ($6.88) per share for the year, down from their previous forecast of ($6.78). SunTrust Banks has a “Buy” rating and a $91.60 price objective on the stock. SunTrust Banks also issued estimates for Tesaro’s FY2018 earnings at ($3.23) EPS and FY2020 earnings at $6.00 EPS.
TSRO has been the topic of a number of other reports. RBC Capital Markets reiterated an “outperform” rating and set a $122.00 price objective on shares of Tesaro in a research note on Wednesday, August 24th. Leerink Swann increased their price objective on shares of Tesaro from $65.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, June 30th. Wedbush reiterated a “buy” rating on shares of Tesaro in a research note on Friday, August 5th. Robert W. Baird began coverage on shares of Tesaro in a research note on Monday, July 18th. They set an “outperform” rating and a $105.00 price objective on the stock. Finally, Citigroup Inc. increased their price objective on shares of Tesaro from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, August 8th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Tesaro has a consensus rating of “Buy” and an average target price of $94.40.
Shares of Tesaro (NASDAQ:TSRO) traded down 0.34% during midday trading on Friday, reaching $100.24. 1,293,548 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $95.75 and its 200 day moving average is $66.93. The firm’s market cap is $5.15 billion. Tesaro has a one year low of $29.51 and a one year high of $110.48.
Tesaro (NASDAQ:TSRO) last announced its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.71) by $0.43. The business earned $36.60 million during 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 period in the previous year, the business earned ($1.51) EPS.
In other news, VP Jeffrey H. Hanke sold 29,166 shares of the stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $86.04, for a total value of $2,509,442.64. Following the completion of the transaction, the vice president now owns 29,166 shares in the company, valued at approximately $2,509,442.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Martin H. Jr. Huber sold 408 shares of the stock in a transaction dated Thursday, September 22nd. The shares were 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 approximately $135,150. The disclosure for this sale can be found here. 40.50% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in TSRO. BlackRock Fund Advisors increased its position in shares of 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 in the last quarter. BlackRock Inc. increased 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 worth $312,000 after buying an additional 834 shares in the last quarter. venBio Select Advisor LLC bought a new position in shares of Tesaro during the first quarter worth about $6,605,000. Pictet Asset Management Ltd. increased its position in shares of Tesaro by 35.8% in the first quarter. Pictet Asset Management Ltd. now owns 55,000 shares of the biopharmaceutical company’s stock worth $2,225,000 after buying an additional 14,500 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new position in shares of Tesaro during the second quarter worth about $23,685,000. Institutional investors and hedge funds own 88.81% 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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