Tesaro (NASDAQ:TSRO) – Investment analysts at Piper Jaffray issued their FY2020 earnings estimates for Tesaro in a report issued on Friday, April 13th. Piper Jaffray analyst C. Raymond expects that the biopharmaceutical company will post earnings of ($1.94) per share for the year. Piper Jaffray currently has a “Hold” rating and a $65.00 price target on the stock. Piper Jaffray also issued estimates for Tesaro’s FY2021 earnings at $0.91 EPS and FY2022 earnings at $2.10 EPS.
Several other brokerages also recently weighed in on TSRO. Credit Suisse Group restated an “outperform” rating and set a $150.00 target price (down previously from $190.00) on shares of Tesaro in a research note on Thursday, January 18th. Barclays cut their price target on Tesaro from $135.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. Cowen cut their price target on Tesaro from $125.00 to $80.00 and set a “market perform” rating for the company in a report on Tuesday, January 2nd. BidaskClub raised Tesaro from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 23rd. Finally, Morgan Stanley cut their price target on Tesaro from $165.00 to $156.00 and set an “overweight” rating for the company in a report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $129.26.
Shares of NASDAQ:TSRO opened at $55.51 on Monday. Tesaro has a twelve month low of $50.67 and a twelve month high of $168.92. The company has a market cap of $2,863.93, a P/E ratio of -6.05 and a beta of 1.34. The company has a quick ratio of 4.39, a current ratio of 4.74 and a debt-to-equity ratio of 1.75.
Tesaro (NASDAQ:TSRO) last announced its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($3.35) earnings per share for the quarter, missing the 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 business had revenue of $48.02 million for the quarter, compared to the consensus estimate of $51.78 million.
In other news, CFO Timothy R. Pearson sold 2,575 shares of the stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $54.86, for a total value of $141,264.50. Following the completion of the transaction, the chief financial officer now directly owns 7,303 shares of the company’s stock, valued at approximately $400,642.58. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Grant C. Bogle sold 1,809 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $54.85, for a total value of $99,223.65. The disclosure for this sale can be found here. Over 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. Corporate insiders own 33.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Delek Group Ltd. acquired a new stake in Tesaro during the 4th quarter valued at $2,483,000. Gabelli Funds LLC increased its holdings in Tesaro by 203.0% during the 4th quarter. Gabelli Funds LLC now owns 10,000 shares of the biopharmaceutical company’s stock valued at $829,000 after purchasing an additional 6,700 shares in the last quarter. TimesSquare Capital Management LLC increased its holdings in Tesaro by 226.1% during the 4th quarter. TimesSquare Capital Management LLC now owns 856,600 shares of the biopharmaceutical company’s stock valued at $70,986,000 after purchasing an additional 593,924 shares in the last quarter. Element Capital Management LLC acquired a new stake in Tesaro during the 4th quarter valued at $16,302,000. Finally, Alps Advisors Inc. acquired a new stake in Tesaro during the 4th quarter valued at $4,994,000.
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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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