Tesaro Inc. (TSRO) Expected to Earn FY2017 Earnings of ($5.25) Per Share
Tesaro Inc. (NASDAQ:TSRO) – Equities researchers at Leerink Swann lifted their FY2017 earnings estimates for Tesaro in a note issued to investors on Sunday. Leerink Swann analyst S. Fernandez now anticipates that the brokerage will earn ($5.25) per share for the year, up from their previous estimate of ($5.38). Leerink Swann currently has a “Outperform” rating and a $115.00 target price on the stock. Leerink Swann also issued estimates for Tesaro’s FY2018 earnings at $0.10 EPS and FY2019 earnings at $4.87 EPS.
Other equities analysts have also recently issued research reports about the stock. Mizuho boosted their price objective on shares of Tesaro from $67.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, July 5th. Citigroup Inc. lifted their target price on shares of Tesaro from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, July 1st. Wedbush reaffirmed a “buy” rating on shares of Tesaro in a research note on Thursday, June 30th. FBR & Co reaffirmed a “buy” rating on shares of Tesaro in a research note on Thursday, June 30th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Tesaro in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $110.11.
Tesaro (NASDAQ:TSRO) traded up 1.20% during midday trading on Wednesday, reaching $116.15. 1,075,904 shares of the company’s stock traded hands. The firm’s market cap is $5.97 billion. Tesaro has a 52-week low of $29.51 and a 52-week high of $122.89. The firm’s 50-day moving average is $98.16 and its 200 day moving average is $70.43.
Tesaro (NASDAQ:TSRO) last posted its quarterly earnings data 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 earned $36.60 million during 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 last year, the business posted ($1.51) EPS.
In other news, VP Jeffrey H. Hanke sold 29,166 shares of the company’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 transaction, the vice president now owns 29,166 shares in the company, valued at $2,509,442.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Edward C. English sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was 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 approximately $309,890. The disclosure for this sale can be found here. 40.50% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CenturyLink Investment Management Co bought a new position in Tesaro during the third quarter valued at $172,000. KCG Holdings Inc. bought a new position in Tesaro during the second quarter valued at $228,000. Quantitative Systematic Strategies LLC bought a new position in Tesaro during the second quarter valued at $240,000. Bluestein R H & Co. bought a new position in Tesaro during the second quarter valued at $252,000. Finally, Neuberger Berman Group LLC bought a new position in Tesaro during the second quarter valued at $256,000. 88.81% of the stock is owned by hedge funds and other institutional investors.
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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