TESARO, Inc. (TSRO) Stock Rating Reaffirmed by Wedbush
TESARO, Inc. (NASDAQ:TSRO)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wedbush in a report released on Monday. They currently have a $160.00 price objective on the biopharmaceutical company’s stock. Wedbush’s price target would suggest a potential upside of 34.82% from the company’s current price.
Several other brokerages have also weighed in on TSRO. Cann reissued a “buy” rating and set a $199.00 target price on shares of TESARO in a research report on Monday, June 5th. Citigroup Inc. reissued a “buy” rating and set a $216.00 target price on shares of TESARO in a research report on Monday. Robert W. Baird reissued a “neutral” rating and set a $140.00 target price (down previously from $155.00) on shares of TESARO in a research report on Thursday, August 10th. Cowen and Company cut their target price on TESARO from $145.00 to $124.00 and set a “market perform” rating on the stock in a research report on Monday, June 19th. Finally, Credit Suisse Group set a $190.00 target price on TESARO and gave the stock a “buy” rating in a research report on Friday, August 18th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $175.15.
Shares of TESARO (TSRO) traded down 1.36% during midday trading on Monday, hitting $118.68. The stock had a trading volume of 791,530 shares. TESARO has a one year low of $90.56 and a one year high of $192.94. The firm has a 50 day moving average price of $123.28 and a 200 day moving average price of $142.28. The stock’s market cap is $6.43 billion.
TESARO (NASDAQ:TSRO) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($2.82) earnings per share for the quarter, missing the consensus estimate of ($2.52) by $0.30. TESARO had a negative return on equity of 104.00% and a negative net margin of 1,301.19%. The business had revenue of $29.50 million for the quarter, compared to analyst estimates of $18.61 million. During the same period last year, the business posted ($1.28) EPS. TESARO’s revenue was down 17.6% on a year-over-year basis. On average, equities analysts forecast that TESARO will post ($8.67) earnings per share for the current fiscal year.
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In related news, VP Grant C. Bogle sold 14,167 shares of TESARO stock in a transaction on Friday, September 1st. The stock was sold at an average price of $135.00, for a total transaction of $1,912,545.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Edward C. English sold 10,862 shares of TESARO stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $134.92, for a total value of $1,465,501.04. Following the transaction, the vice president now directly owns 6,258 shares of the company’s stock, valued at $844,329.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,100 shares of company stock worth $3,387,465. Company insiders own 34.60% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. FMR LLC raised its holdings in TESARO by 0.4% during the first quarter. FMR LLC now owns 8,043,921 shares of the biopharmaceutical company’s stock worth $1,237,718,000 after purchasing an additional 32,918 shares during the last quarter. BlackRock Inc. raised its holdings in shares of TESARO by 5.7% in the second quarter. BlackRock Inc. now owns 3,605,247 shares of the biopharmaceutical company’s stock worth $504,230,000 after acquiring an additional 195,590 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of TESARO by 2.1% in the second quarter. Vanguard Group Inc. now owns 2,978,236 shares of the biopharmaceutical company’s stock worth $416,537,000 after acquiring an additional 62,104 shares during the last quarter. State Street Corp raised its holdings in shares of TESARO by 17.9% in the second quarter. State Street Corp now owns 1,168,913 shares of the biopharmaceutical company’s stock worth $163,496,000 after acquiring an additional 177,057 shares during the last quarter. Finally, BB Biotech AG raised its holdings in shares of TESARO by 6.5% in the second quarter. BB Biotech AG now owns 877,990 shares of the biopharmaceutical company’s stock worth $122,796,000 after acquiring an additional 53,408 shares during the last quarter.
TESARO Company Profile
TESARO, Inc is an oncology-focused biopharmaceutical company. The Company operates through the business of developing and commercializing of oncology-focused therapeutics segment. It is developing oncology-related product candidates, including rolapitant, niraparib and the product candidates under its immuno-oncology platform.
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