Tesaro Inc. (TSRO) Earns “Buy” Rating from Citigroup Inc.
Tesaro Inc. (NASDAQ:TSRO)‘s stock had its “buy” rating restated by analysts at Citigroup Inc. in a research note issued on Wednesday. They presently have a $125.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $120.00. Citigroup Inc.’s price objective would indicate a potential upside of 8.38% from the stock’s current price.
A number of other equities analysts have also weighed in on TSRO. FBR & Co reissued a “buy” rating on shares of Tesaro in a research note on Thursday, June 30th. Zacks Investment Research raised Tesaro from a “sell” rating to a “hold” rating in a research note on Tuesday, July 5th. SunTrust Banks Inc. reissued a “buy” rating and set a $91.60 price objective on shares of Tesaro in a research note on Wednesday, September 14th. Wedbush reissued a “buy” rating on shares of Tesaro in a research note on Thursday, June 30th. Finally, Credit Suisse Group AG reissued an “outperform” rating and set a $122.00 price objective (up previously from $90.00) on shares of Tesaro in a research note on Monday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the stock. Tesaro currently has a consensus rating of “Buy” and a consensus target price of $110.11.
Tesaro (NASDAQ:TSRO) opened at 115.33 on Wednesday. The stock has a 50 day moving average of $97.53 and a 200-day moving average of $70.11. The company’s market capitalization is $5.92 billion. Tesaro has a 52-week low of $29.51 and a 52-week high of $122.89.
Tesaro (NASDAQ:TSRO) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.71) by $0.43. The company had revenue of $36.60 million for the quarter, compared to analyst estimates of $4.98 million. Tesaro had a negative return on equity of 205.63% and a negative net margin of 783.97%. During the same quarter in the previous year, the company posted ($1.51) earnings per share. On average, equities research analysts anticipate that Tesaro will post ($7.36) earnings per share for the current fiscal year.
In related news, VP Edward C. English sold 7,000 shares of the business’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 in the company, valued at approximately $309,890. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jeffrey H. Hanke sold 29,166 shares of the business’s stock in a transaction on 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 sale, the vice president now owns 29,166 shares in the company, valued at approximately $2,509,442.64. The disclosure for this sale can be found here. 40.50% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. KCG Holdings Inc. purchased a new stake in Tesaro during the second quarter valued at about $228,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Tesaro during the second quarter valued at $240,000. Bluestein R H & Co. bought a new stake in shares of Tesaro during the second quarter valued at $252,000. Neuberger Berman Group LLC bought a new stake in shares of Tesaro during the second quarter valued at $256,000. Finally, Amalgamated Bank bought a new stake in shares of Tesaro during the second quarter valued at $260,000. Hedge funds and other institutional investors 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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