HC Wainwright Reiterates “Buy” Rating for TESARO (NASDAQ:TSRO)

HC Wainwright reaffirmed their buy rating on shares of TESARO (NASDAQ:TSRO) in a report published on Friday, January 12th. HC Wainwright currently has a $158.00 target price on the biopharmaceutical company’s stock.

“Updates to Varubi’s Label; Reiterate Buy and $158 Price Target Prescribing information update, no products being recalled. After the close on January 12, TESARO announced that it has updated the Varubi injectable emulsion package insert in collaboration with the FDA. The changes to the label include modifications to the Contradictions, Warnings and Precuations, and Adverse Reactions section to inclde anaphylaxis, anaphylactic shock and other serious hypersensitivity reactions associated with the use of Varubi injectable emulsion. The company indicated that anaphylaxis, anaphylactic shock and other hypersensitivity reactions have been reported in the postmarketing setting, with some cases requiring hospitalization. These side effects were noted during or soon after the infusion of Varubi, with most reactions observed during the first few minutes of administration.”,” the firm’s analyst commented.

A number of other analysts also recently commented on the stock. Robert W. Baird reissued a neutral rating and set a $125.00 price objective on shares of TESARO in a report on Monday, October 2nd. Jefferies Group reissued a hold rating and set a $124.00 price objective on shares of TESARO in a report on Friday, November 3rd. Royal Bank of Canada initiated coverage on shares of TESARO in a report on Thursday, September 14th. They set a sector perform rating and a $120.00 price objective on the stock. Zacks Investment Research upgraded shares of TESARO from a sell rating to a hold rating in a research report on Wednesday, November 8th. Finally, Lake Street Capital restated a buy rating and set a $143.00 target price on shares of TESARO in a research report on Thursday, November 9th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $149.97.

TESARO (NASDAQ TSRO) traded down $3.46 during midday trading on Friday, reaching $59.94. 1,660,000 shares of the company’s stock were exchanged, compared to its average volume of 1,200,000. The company has a current ratio of 4.73, a quick ratio of 4.35 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $3,080.00, a price-to-earnings ratio of -7.11 and a beta of 1.25. TESARO has a one year low of $59.77 and a one year high of $192.94.

TESARO (NASDAQ:TSRO) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.47) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.16) by $0.69. The business had revenue of $142.77 million for the quarter, compared to the consensus estimate of $130.57 million. TESARO had a negative net margin of 251.22% and a negative return on equity of 93.39%. The business’s quarterly revenue was up 740.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.72) earnings per share. research analysts anticipate that TESARO will post -8.2 EPS for the current year.

In other TESARO news, SVP Martin H. Jr. Huber sold 829 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $85.24, for a total transaction of $70,663.96. Following the completion of the sale, the senior vice president now directly owns 8,101 shares in the company, valued at $690,529.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 40.50% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSRO. SG Americas Securities LLC purchased a new stake in TESARO during the second quarter worth approximately $351,000. BNP Paribas Arbitrage SA boosted its stake in shares of TESARO by 317.8% in the second quarter. BNP Paribas Arbitrage SA now owns 3,326 shares of the biopharmaceutical company’s stock valued at $465,000 after purchasing an additional 2,530 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of TESARO by 3,042.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 1,477 shares of the biopharmaceutical company’s stock valued at $206,000 after purchasing an additional 1,430 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of TESARO in the second quarter valued at $990,000. Finally, Stephens Inc. AR boosted its stake in shares of TESARO by 6.5% in the second quarter. Stephens Inc. AR now owns 1,874 shares of the biopharmaceutical company’s stock valued at $262,000 after purchasing an additional 115 shares during the period.

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About TESARO

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.

Analyst Recommendations for TESARO (NASDAQ:TSRO)

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