Tesaro Inc. to Post FY2019 Earnings of $1.51 Per Share, SunTrust Banks Forecasts (TSRO)
Tesaro Inc. (NASDAQ:TSRO) – SunTrust Banks increased their FY2019 EPS estimates for Tesaro in a research note issued on Tuesday. SunTrust Banks analyst P. Lawson now forecasts that the brokerage will post earnings per share of $1.51 for the year, up from their prior estimate of $1.48. SunTrust Banks currently has a “Buy” rating and a $91.60 price target on the stock.
A number of other equities analysts have also recently commented on TSRO. Leerink Swann reissued a “buy” rating on shares of Tesaro in a research note on Monday, June 6th. FBR & Co restated a “buy” rating on shares of Tesaro in a report on Monday, June 6th. Zacks Investment Research lowered shares of Tesaro from a “hold” rating to a “sell” rating in a report on Wednesday, June 15th. Jefferies Group lowered shares of Tesaro from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $53.00 to $75.00 in a report on Thursday, June 30th. They noted that the move was a valuation call. Finally, Mizuho restated an “outperform” rating and issued a $67.00 price objective on shares of Tesaro in a report on Thursday, June 30th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $94.40.
Tesaro (NASDAQ:TSRO) traded down 0.34% during midday trading on Thursday, reaching $100.24. 1,293,548 shares of the company’s stock were exchanged. Tesaro has a 12-month low of $29.51 and a 12-month high of $110.48. The firm has a 50-day moving average price of $95.75 and a 200 day moving average price of $66.93. The company’s market cap is $5.15 billion.
Tesaro (NASDAQ:TSRO) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) EPS for the quarter, topping analysts’ consensus estimates of ($1.71) by $0.43. The business earned $36.60 million during 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 period last year, the company posted ($1.51) earnings per share.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. KCG Holdings Inc. acquired a new stake in Tesaro during the second quarter worth $228,000. Quantitative Systematic Strategies LLC acquired a new stake in Tesaro during the second quarter worth $240,000. Parametrica Management Ltd acquired a new stake in Tesaro during the first quarter worth $251,000. Bluestein R H & Co. acquired a new stake in Tesaro during the second quarter worth $252,000. Finally, Neuberger Berman Group LLC acquired a new stake in Tesaro during the second quarter worth $256,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.
In other Tesaro news, VP Edward C. English sold 7,000 shares of the business’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $88.54, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Martin H. Jr. Huber sold 408 shares of the business’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $108.12, for a total transaction of $44,112.96. Following 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. Company insiders own 40.50% 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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