Tesaro Inc. (TSRO) Hits New 12-Month High Following Analyst Upgrade
Tesaro Inc. (NASDAQ:TSRO) reached a new 52-week high during trading on Monday after Robert W. Baird raised their price target on the stock to $120.00. The company traded as high as $122.89 and last traded at $119.78, with a volume of 4,087,721 shares traded. The stock had previously closed at $99.26.
Several other equities research analysts have also recently weighed in on the company. Bank of America Corp. started coverage on Tesaro in a research note on Tuesday, August 30th. They set a “neutral” rating and a $97.00 price objective on the stock. FBR & Co boosted their price objective on Tesaro from $102.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday. Citigroup Inc. boosted their price objective on Tesaro from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, August 8th. Mizuho boosted their price objective on Tesaro from $67.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, July 5th. Finally, Jefferies Group cut Tesaro from a “buy” rating to a “hold” rating and upped their target price for the company from $53.00 to $75.00 in a research note on Thursday, June 30th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $107.90.
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 stock was sold at an average price of $108.12, for a total transaction of $44,112.96. Following the completion of the sale, the senior vice president now owns 1,250 shares in the company, valued at $135,150. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 sale, the vice president now owns 3,500 shares of the company’s stock, valued at approximately $309,890. The disclosure for this sale can be found here. Company insiders own 40.50% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. FMR LLC raised its stake in 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. Vanguard Group Inc. raised its stake in 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 raised its stake in Tesaro by 8.2% in the second quarter. BlackRock Fund Advisors now owns 1,399,709 shares of the biopharmaceutical company’s stock worth $117,646,000 after buying an additional 105,803 shares in the last quarter. State Street Corp raised its stake in 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. Finally, Passport Capital LLC bought a new stake in Tesaro during the second quarter worth $61,720,000. Institutional investors own 88.81% of the company’s stock.
The firm has a 50 day moving average price of $96.42 and a 200-day moving average price of $68.96. The company’s market capitalization is $6.10 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. Equities research analysts forecast that Tesaro Inc. will post ($7.36) EPS for the current year.
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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