Tesaro Inc. (TSRO) Given New $128.00 Price Target at Royal Bank Of Canada
Tesaro Inc. (NASDAQ:TSRO) had its target price raised by Royal Bank Of Canada from $122.00 to $128.00 in a research report sent to investors on Monday. Royal Bank Of Canada currently has an outperform rating on the biopharmaceutical company’s stock.
TSRO has been the topic of several other reports. RBC Capital Markets reiterated an outperform rating and set a $122.00 target price on shares of Tesaro in a research report on Wednesday, August 24th. Leerink Swann boosted their price target on shares of Tesaro from $65.00 to $95.00 and gave the company an outperform rating in a research report on Thursday, June 30th. Wedbush restated a buy rating on shares of Tesaro in a research report on Friday, August 5th. Robert W. Baird began coverage on shares of Tesaro in a research report on Monday, July 18th. They issued an outperform rating and a $105.00 price target on the stock. Finally, Citigroup Inc. boosted their price target on shares of Tesaro from $90.00 to $120.00 and gave the company a buy rating in a research report on Monday, August 8th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $109.76.
Shares of Tesaro (NASDAQ:TSRO) traded down 1.75% during mid-day trading on Monday, reaching $115.85. 471,127 shares of the company were exchanged. The firm has a 50-day moving average price of $97.07 and a 200 day moving average price of $69.78. The stock’s market capitalization is $5.95 billion. Tesaro has a 12 month low of $29.51 and a 12 month high of $122.89.
Tesaro (NASDAQ:TSRO) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, beating the consensus estimate of ($1.71) by $0.43. Tesaro had a negative net margin of 783.97% and a negative return on equity of 205.63%. The business had revenue of $36.60 million for the quarter, compared to analyst estimates of $4.98 million. During the same period in the previous year, the business earned ($1.51) EPS. Equities research 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 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 completion of the transaction, the vice president now owns 3,500 shares in the company, valued at $309,890. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jeffrey H. Hanke sold 29,166 shares of the stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $86.04, for a total transaction of $2,509,442.64. Following the transaction, the vice president now owns 29,166 shares of the company’s stock, valued at approximately $2,509,442.64. The disclosure for this sale can be found here. Corporate insiders own 40.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Tocqueville Asset Management L.P. raised its stake in 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 during the period. Quantitative Systematic Strategies LLC purchased a new stake in Tesaro during the second quarter valued at about $240,000. Smith Asset Management Group LP purchased a new stake in Tesaro during the second quarter valued at about $406,000. Parametrica Management Ltd raised its stake in 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 during the period. Finally, BNP Paribas Arbitrage SA purchased a new stake in Tesaro during the second quarter valued at about $941,000. Institutional investors and hedge funds own 88.81% of the company’s stock.
Tesaro Company Profile
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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