Tesaro Inc. Forecasted to Earn FY2016 Earnings of ($7.09) Per Share (TSRO)
Tesaro Inc. (NASDAQ:TSRO) – Equities researchers at SunTrust Banks increased their FY2016 earnings per share estimates for shares of Tesaro in a note issued to investors on Thursday. SunTrust Banks analyst P. Lawson now expects that the firm will post earnings of ($7.09) per share for the year, up from their previous forecast of ($7.18). SunTrust Banks has a “Buy” rating and a $91.60 price target on the stock.
Tesaro (NASDAQ:TSRO) last announced its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) EPS for the quarter, beating analysts’ consensus estimates of ($1.71) by $0.43. The company earned $36.60 million during the quarter, compared to the consensus estimate 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 prior year, the company earned ($1.51) earnings per share.
Several other equities analysts have also recently weighed in on the company. Citigroup Inc. restated a “buy” rating and set a $125.00 price target (up previously from $120.00) on shares of Tesaro in a report on Wednesday, October 12th. Zacks Investment Research cut Tesaro from a “hold” rating to a “sell” rating in a report on Tuesday, October 11th. Credit Suisse Group AG restated an “outperform” rating and set a $122.00 price target (up previously from $90.00) on shares of Tesaro in a report on Monday, October 10th. Leerink Swann restated an “outperform” rating and set a $115.00 price target (up previously from $108.00) on shares of Tesaro in a report on Monday, October 10th. Finally, Robert W. Baird raised their price target on Tesaro from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, October 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the stock. Tesaro currently has a consensus rating of “Buy” and a consensus price target of $110.11.
Tesaro (NASDAQ:TSRO) opened at 115.05 on Monday. The company’s 50 day moving average price is $99.84 and its 200-day moving average price is $71.24. The company’s market cap is $5.91 billion. Tesaro has a one year low of $29.51 and a one year high of $122.89.
Several institutional investors have recently made changes to their positions in TSRO. CenturyLink Investment Management Co bought a new position in shares of Tesaro during the third quarter worth approximately $172,000. KCG Holdings Inc. bought a new position in shares of Tesaro during the second quarter worth approximately $228,000. Amalgamated Bank bought a new position in shares of Tesaro during the second quarter worth approximately $260,000. Quantitative Systematic Strategies LLC bought a new position in shares of Tesaro during the second quarter worth approximately $240,000. Finally, Bluestein R H & Co. bought a new position in shares of Tesaro during the second quarter worth approximately $252,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.
In other news, SVP Martin H. Jr. Huber sold 408 shares of Tesaro 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 completion of the transaction, the senior vice president now owns 1,250 shares in the company, valued at approximately $135,150. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jeffrey H. Hanke sold 29,166 shares of Tesaro stock in a transaction that occurred on Tuesday, August 30th. The stock was 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 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. 40.50% of the stock is owned by 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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