Tesaro (NASDAQ:TSRO) – SunTrust Banks dropped their FY2021 EPS estimates for shares of Tesaro in a report released on Tuesday, March 13th, according to Zacks Investment Research. SunTrust Banks analyst P. Lawson now expects that the biopharmaceutical company will post earnings of $3.28 per share for the year, down from their prior forecast of $3.29.
Tesaro (NASDAQ:TSRO) last released its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($3.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.39) by ($0.96). Tesaro had a negative net margin of 222.15% and a negative return on equity of 126.44%. The company had revenue of $48.02 million during the quarter, compared to analyst estimates of $51.78 million.
A number of other brokerages have also recently issued reports on TSRO. Cowen reduced their target price on shares of Tesaro from $125.00 to $80.00 and set a “market perform” rating for the company in a research report on Tuesday, January 2nd. Piper Jaffray reissued a “hold” rating and issued a $80.00 target price on shares of Tesaro in a research report on Tuesday, January 2nd. Citigroup reissued a “buy” rating and issued a $135.00 target price (down previously from $216.00) on shares of Tesaro in a research report on Wednesday, December 20th. Zacks Investment Research cut shares of Tesaro from a “hold” rating to a “sell” rating in a research report on Thursday, January 11th. Finally, HC Wainwright reissued a “buy” rating and issued a $158.00 target price on shares of Tesaro in a research report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $129.26.
NASDAQ:TSRO opened at $54.70 on Thursday. The firm has a market capitalization of $3,120.51, a price-to-earnings ratio of -5.97 and a beta of 1.34. Tesaro has a one year low of $52.20 and a one year high of $168.92. The company has a debt-to-equity ratio of 1.75, a quick ratio of 4.39 and a current ratio of 4.74.
Several hedge funds have recently bought and sold shares of the company. Delek Group Ltd. bought a new position in shares of Tesaro in the fourth quarter worth about $2,483,000. Iguana Healthcare Management LLC lifted its holdings in shares of Tesaro by 40.0% in the fourth quarter. Iguana Healthcare Management LLC now owns 35,000 shares of the biopharmaceutical company’s stock worth $2,900,000 after acquiring an additional 10,000 shares during the last quarter. Element Capital Management LLC bought a new position in shares of Tesaro in the fourth quarter worth about $16,302,000. Kazazian Asset Management LLC lifted its holdings in shares of Tesaro by 48.8% in the fourth quarter. Kazazian Asset Management LLC now owns 7,806 shares of the biopharmaceutical company’s stock worth $647,000 after acquiring an additional 2,560 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in shares of Tesaro by 36.6% in the fourth quarter. Macquarie Group Ltd. now owns 115,354 shares of the biopharmaceutical company’s stock worth $9,559,000 after acquiring an additional 30,895 shares during the last quarter.
In related news, major shareholder Enterprise Associates 13 L. New bought 54,642 shares of the company’s stock in a transaction dated Friday, March 2nd. The stock was purchased at an average price of $55.56 per share, with a total value of $3,035,909.52. Following the completion of the acquisition, the insider now owns 252 shares of the company’s stock, valued at $14,001.12. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Orlando Oliveira sold 3,000 shares of the stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $69.88, for a total transaction of $209,640.00. Following the completion of the transaction, the senior vice president now directly owns 9,076 shares of the company’s stock, valued at approximately $634,230.88. The disclosure for this sale can be found here. In the last three months, insiders bought 334,913 shares of company stock valued at $19,083,294 and sold 13,042 shares valued at $760,526. 40.50% of the stock is currently owned by corporate insiders.
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Tesaro Company Profile
Tesaro, Inc, an oncology-focused biopharmaceutical company, identifies, acquires, develops, and commercializes cancer therapeutics and oncology supportive care products in the United States. It offers ZEJULA (niraparib), an orally active and potent poly polymerase inhibitor for the maintenance treatment of women with recurrent epithelial ovarian, fallopian tube, or primary peritoneal cancer; and VARUBI (rolapitant), a neurokinin-1, or NK-1, receptor antagonist for the prevention of chemotherapy induced nausea and vomiting.
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