TESARO’s (TSRO) Buy Rating Reiterated at Cann
Cann restated their buy rating on shares of TESARO, Inc. (NASDAQ:TSRO) in a research note issued to investors on Friday morning. They currently have a $199.00 target price on the biopharmaceutical company’s stock.
“These results are an analysis of the phase I/II TOPACIO study of niraparib plus pembrolizumab in combination with pembrolizumab (Keytruda) in patients with triple negative breast cancer (TNBC) or ovarian cancer. Safety and efficacy were presented from both the dose-finding portion as well as the dose-expansion portion of the study. We believe these data released today support a path forward for Tesaro in the TNBC setting with Zejula. TNBC is a particularly challenging setting. There are many studies from numerous drug sponsors underway and TNBC, but there is no established reference standard for this disease.”,” the firm’s analyst wrote.
Several other analysts also recently commented on the company. Credit Suisse Group set a $198.00 target price on TESARO and gave the company a buy rating in a research note on Wednesday, July 19th. Leerink Swann reduced their target price on TESARO from $164.00 to $143.00 and set a market perform rating for the company in a research note on Tuesday, June 20th. ValuEngine downgraded TESARO from a hold rating to a sell rating in a research note on Monday, July 17th. Gabelli started coverage on TESARO in a research note on Friday, July 7th. They issued a buy rating and a $175.00 target price for the company. Finally, BidaskClub downgraded TESARO from a sell rating to a strong sell rating in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $175.15.
TESARO (NASDAQ TSRO) opened at 118.68 on Friday. The company’s market capitalization is $6.43 billion. TESARO has a 12-month low of $91.76 and a 12-month high of $192.94. The firm’s 50-day moving average price is $123.28 and its 200 day moving average price is $141.96.
TESARO (NASDAQ:TSRO) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($2.82) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.52) by $0.30. The firm had revenue of $29.50 million during the quarter, compared to analyst estimates of $18.61 million. TESARO had a negative net margin of 1,301.19% and a negative return on equity of 104.00%. The business’s quarterly revenue was down 17.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.28) earnings per share. On average, analysts expect that TESARO will post ($8.67) earnings per share for the current year.
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In related news, VP Grant C. Bogle sold 14,167 shares of TESARO stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $135.00, for a total value of $1,912,545.00. The transaction was disclosed in a document filed 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 that occurred on Wednesday, September 6th. The shares were sold at an average price of $134.92, for a total transaction of $1,465,501.04. Following the completion of the transaction, the vice president now owns 6,258 shares of the company’s stock, valued at $844,329.36. The disclosure for this sale can be found here. Insiders sold a total of 25,100 shares of company stock valued at $3,387,465 over the last quarter. 34.60% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Achmea Investment Management B.V. purchased a new position in TESARO in the 2nd quarter valued at approximately $234,000. Public Employees Retirement System of Ohio grew its stake in TESARO by 82.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 36,667 shares of the biopharmaceutical company’s stock valued at $5,128,000 after buying an additional 16,569 shares in the last quarter. Intellectus Partners LLC grew its stake in TESARO by 17.7% in the 2nd quarter. Intellectus Partners LLC now owns 6,310 shares of the biopharmaceutical company’s stock valued at $883,000 after buying an additional 950 shares in the last quarter. California State Teachers Retirement System grew its stake in TESARO by 20.8% in the 2nd quarter. California State Teachers Retirement System now owns 68,090 shares of the biopharmaceutical company’s stock valued at $9,523,000 after buying an additional 11,706 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in TESARO by 291.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 7,105 shares of the biopharmaceutical company’s stock valued at $994,000 after buying an additional 5,291 shares in the last quarter.
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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