Tesaro Inc. to Post Q3 2016 Earnings of ($1.97) Per Share, Wedbush Forecasts (TSRO)
Tesaro Inc. (NASDAQ:TSRO) – Analysts at Wedbush decreased their Q3 2016 earnings estimates for shares of Tesaro in a research note issued to investors on Monday. Wedbush analyst D. Nierengarten now forecasts that the firm will post earnings of ($1.97) per share for the quarter, down from their prior estimate of ($1.90). Wedbush currently has a “Outperform” rating and a $139.00 price target on the stock. Wedbush also issued estimates for Tesaro’s Q4 2016 earnings at ($2.01) EPS, FY2016 earnings at ($7.47) EPS, Q1 2017 earnings at ($2.00) EPS, Q2 2017 earnings at ($1.97) EPS, Q3 2017 earnings at ($2.23) EPS, Q4 2017 earnings at ($1.57) EPS, FY2017 earnings at ($7.76) EPS, FY2018 earnings at ($3.33) EPS, FY2019 earnings at $4.00 EPS and FY2020 earnings at $14.64 EPS.
Tesaro (NASDAQ:TSRO) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.28) EPS for the quarter, topping 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 firm earned ($1.51) EPS.
TSRO has been the subject of a number of other research reports. RBC Capital Markets reiterated an “outperform” rating and issued a $122.00 price target on shares of Tesaro in a research report on Wednesday, August 24th. Leerink Swann increased their price target on Tesaro from $65.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, June 30th. Credit Suisse Group AG reiterated an “outperform” rating and issued a $122.00 price target (up previously from $90.00) on shares of Tesaro in a research report on Monday. Zacks Investment Research lowered Tesaro from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Robert W. Baird initiated coverage on Tesaro in a research report on Monday, July 18th. They issued an “outperform” rating and a $105.00 price target for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $110.11.
Shares of Tesaro (NASDAQ:TSRO) opened at 114.77 on Wednesday. The company has a 50 day moving average of $98.16 and a 200 day moving average of $70.43. The stock’s market capitalization is $5.90 billion. Tesaro has a 52-week low of $29.51 and a 52-week high of $122.89.
A number of hedge funds and other institutional investors have recently modified their holdings of TSRO. 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 valued at $312,000 after buying an additional 834 shares in the last quarter. BlackRock Group LTD increased its position in shares of Tesaro by 7.9% in the first quarter. BlackRock Group LTD now owns 162,499 shares of the biopharmaceutical company’s stock valued at $7,154,000 after buying an additional 11,880 shares in the last quarter. 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 valued at $56,971,000 after buying an additional 23,384 shares in the last quarter. State Street Corp increased its position in shares of Tesaro by 0.7% in the first quarter. State Street Corp now owns 893,749 shares of the biopharmaceutical company’s stock valued at $39,349,000 after buying an additional 6,026 shares in the last quarter. Finally, 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 valued at $2,225,000 after buying an additional 14,500 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.
In related news, SVP Martin H. Jr. Huber sold 408 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $108.12, for a total value of $44,112.96. Following the transaction, the senior vice president now directly owns 1,250 shares of the company’s stock, valued at approximately $135,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jeffrey H. Hanke sold 29,166 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 29,166 shares in the company, valued at $2,509,442.64. The disclosure for this sale can be found here. 40.50% of the stock is owned by corporate insiders.
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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