$118.02 Million in Sales Expected for TESARO, Inc. (TSRO) This Quarter
Analysts expect that TESARO, Inc. (NASDAQ:TSRO) will report sales of $118.02 million for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for TESARO’s earnings. The highest sales estimate is $162.60 million and the lowest is $33.60 million. TESARO posted sales of $3.73 million during the same quarter last year, which indicates a positive year over year growth rate of 3,064.1%. The company is scheduled to announce its next earnings results on Thursday, November 2nd.
On average, analysts expect that TESARO will report full year sales of $118.02 million for the current year, with estimates ranging from $108.10 million to $280.80 million. For the next year, analysts expect that the firm will post sales of $484.25 million per share, with estimates ranging from $312.94 million to $636.60 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for TESARO.
TESARO (NASDAQ:TSRO) last issued its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.52) by ($0.30). The business had revenue of $29.50 million during the quarter, compared to the consensus estimate of $18.61 million. TESARO had a negative net margin of 1,301.19% and a negative return on equity of 104.00%. The firm’s quarterly revenue was down 17.6% compared to the same quarter last year. During the same quarter last year, the business earned ($1.28) EPS.
A number of brokerages recently commented on TSRO. Robert W. Baird restated a “neutral” rating and set a $140.00 target price (down previously from $155.00) on shares of TESARO in a report on Thursday, August 10th. Janney Montgomery Scott set a $139.00 target price on TESARO and gave the stock a “hold” rating in a research note on Saturday, June 10th. Morgan Stanley reissued an “overweight” rating and issued a $183.00 target price on shares of TESARO in a research note on Thursday, August 10th. Jefferies Group LLC set a $124.00 target price on TESARO and gave the stock a “hold” rating in a research note on Thursday, August 17th. Finally, Cowen and Company set a $145.00 price objective on TESARO and gave the company a “hold” rating in a research report on Saturday, June 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $170.74.
TESARO (NASDAQ TSRO) traded up 0.0028% on Tuesday, reaching $120.0033. 379,307 shares of the company’s stock traded hands. The firm’s 50-day moving average is $121.90 and its 200 day moving average is $135.54. The firm’s market cap is $6.50 billion. TESARO has a 12 month low of $96.52 and a 12 month high of $192.94.
In other news, Director James O. Armitage sold 10,000 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $117.13, for a total transaction of $1,171,300.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $1,171,300. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Martin H. Jr. Huber sold 592 shares of the firm’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $118.60, for a total value of $70,211.20. Following the transaction, the senior vice president now owns 6,943 shares of the company’s stock, valued at $823,439.80. The disclosure for this sale can be found here. Insiders sold 35,692 shares of company stock valued at $4,628,976 over the last quarter. 40.50% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in TESARO by 4,504.8% in the first quarter. BlackRock Inc. now owns 3,409,657 shares of the biopharmaceutical company’s stock valued at $524,643,000 after purchasing an additional 3,335,611 shares during the period. Janus Henderson Group PLC acquired a new stake in TESARO in the second quarter valued at $100,301,000. PointState Capital LP acquired a new stake in TESARO in the second quarter valued at $85,971,000. Pioneer Investment Management Inc. raised its stake in TESARO by 195.6% in the second quarter. Pioneer Investment Management Inc. now owns 317,753 shares of the biopharmaceutical company’s stock valued at $44,441,000 after buying an additional 210,273 shares in the last quarter. Finally, State Street Corp raised its stake in TESARO by 17.9% in the second quarter. State Street Corp now owns 1,168,913 shares of the biopharmaceutical company’s stock valued at $163,496,000 after buying an additional 177,057 shares in the last quarter.
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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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