FY2019 Earnings Estimate for Tesaro Inc. Issued By FBR & Co (TSRO)
Tesaro Inc. (NASDAQ:TSRO) – Analysts at FBR & Co upped their FY2019 earnings estimates for Tesaro in a report released on Tuesday. FBR & Co analyst E. White now anticipates that the firm will post earnings of $2.39 per share for the year, up from their previous forecast of $1.36. FBR & Co currently has a “Outperform” rating and a $115.00 price target on the stock.
Tesaro (NASDAQ:TSRO) last announced 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 return on equity of 205.63% and a negative net margin of 783.97%. The firm earned $36.60 million during the quarter, compared to the consensus estimate of $4.98 million. During the same quarter in the prior year, the company earned ($1.51) EPS.
Other research analysts have also issued reports about the company. Mizuho lifted their target price on Tesaro from $67.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, July 5th. Citigroup Inc. boosted their price target on Tesaro from $65.00 to $90.00 and gave the company a “buy” rating in a report on Friday, July 1st. Wedbush restated a “buy” rating on shares of Tesaro in a report on Thursday, June 30th. Credit Suisse Group AG restated a “buy” rating on shares of Tesaro in a report on Friday, August 5th. Finally, Lake Street Capital restated a “buy” rating and issued a $114.00 price target on shares of Tesaro in a report on Tuesday, September 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company. Tesaro currently has an average rating of “Buy” and an average target price of $110.11.
Shares of Tesaro (NASDAQ:TSRO) traded down 0.95% during mid-day trading on Friday, reaching $115.05. The company had a trading volume of 728,969 shares. The firm’s 50-day moving average is $99.84 and its 200 day moving average is $71.24. Tesaro has a 12 month low of $29.51 and a 12 month high of $122.89. The company’s market capitalization is $5.91 billion.
Several large investors have recently modified their holdings of the company. Tocqueville Asset Management L.P. boosted its stake in shares of Tesaro by 28.8% in the second quarter. Tocqueville Asset Management L.P. now owns 31,750 shares of the biopharmaceutical company’s stock worth $2,669,000 after buying an additional 7,100 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in shares of Tesaro during the second quarter worth about $240,000. Smith Asset Management Group LP purchased a new stake in shares of Tesaro during the second quarter worth about $406,000. Parametrica Management Ltd boosted its stake in shares of Tesaro by 144.9% in the second quarter. Parametrica Management Ltd now owns 13,988 shares of the biopharmaceutical company’s stock worth $1,176,000 after buying an additional 8,277 shares in the last quarter. Finally, BNP Paribas Arbitrage SA purchased a new stake in shares of Tesaro during the second quarter worth about $941,000. Institutional investors own 88.81% of the company’s stock.
In other news, VP Jeffrey H. Hanke sold 29,166 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 29,166 shares in the company, valued at $2,509,442.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Martin H. Jr. Huber sold 408 shares of the business’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 sale, the senior vice president now owns 1,250 shares of the company’s stock, valued at approximately $135,150. The disclosure for this sale can be found here. Insiders own 40.50% 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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