TESARO (NASDAQ:TSRO)‘s stock had its “buy” rating reissued by investment analysts at Cann in a research note issued on Friday. They currently have a $83.00 price target on the biopharmaceutical company’s stock. Cann’s target price would indicate a potential upside of 160.35% from the stock’s current price.
The analysts wrote, “Tesaro released Q3 2018 results today with Zejula sales of $63.2 million, which exceeded our estimated $60.1 million by 5.1%, and consensus of $60.8 million by 4%. Better than estimated sales resulted from unit demand increases and strong growth outside the US. Total revenue of $64.4 million was lower than our estimated $68.0 million due to Varubi collaboration revenue of $0.4 million, which was lower than our estimated $7.0 million, and consensus of $2.8 million. Total operating expenses of $202.6 million were 13.7% higher than our estimated $178.2 million, due to lower than estimated R&D expense. Tesaro lost $2.49 per share compared to our estimated loss per share of $2.19 and consensus loss per share of $2.55.””
Other equities research analysts have also recently issued reports about the stock. Citigroup lowered their price objective on shares of TESARO from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, August 29th. HC Wainwright reduced their target price on shares of TESARO to $71.00 and set a “buy” rating on the stock in a report on Friday, July 20th. Guggenheim started coverage on shares of TESARO in a report on Monday, September 17th. They issued a “buy” rating on the stock. BidaskClub upgraded shares of TESARO from a “hold” rating to a “buy” rating in a report on Friday, October 5th. Finally, ValuEngine upgraded shares of TESARO from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $78.26.
Shares of NASDAQ TSRO opened at $31.88 on Friday. The stock has a market capitalization of $1.71 billion, a P/E ratio of -3.48 and a beta of 1.01. TESARO has a 52 week low of $25.62 and a 52 week high of $114.05. The company has a debt-to-equity ratio of 3.74, a quick ratio of 3.64 and a current ratio of 4.11.
TESARO (NASDAQ:TSRO) last issued its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($2.49) EPS for the quarter, beating the Zacks’ consensus estimate of ($2.62) by $0.13. The firm had revenue of $64.40 million for the quarter, compared to analysts’ expectations of $71.84 million. TESARO had a negative net margin of 180.29% and a negative return on equity of 285.30%. The firm’s revenue was down 54.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.47) EPS. As a group, equities research analysts expect that TESARO will post -11.15 earnings per share for the current year.
In other TESARO news, Director Arnold L. Oronsky sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $26.77, for a total value of $267,700.00. Following the transaction, the director now directly owns 12,479 shares in the company, valued at approximately $334,062.83. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 10,443 shares of company stock worth $283,996. 33.70% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of TESARO by 5.8% during the 2nd quarter. BlackRock Inc. now owns 4,221,311 shares of the biopharmaceutical company’s stock worth $187,720,000 after acquiring an additional 231,196 shares during the period. Frontier Capital Management Co. LLC lifted its holdings in shares of TESARO by 77.9% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 3,139,778 shares of the biopharmaceutical company’s stock worth $122,483,000 after acquiring an additional 1,375,361 shares during the period. BB Biotech AG lifted its holdings in shares of TESARO by 48.9% during the 2nd quarter. BB Biotech AG now owns 2,426,802 shares of the biopharmaceutical company’s stock worth $107,920,000 after acquiring an additional 797,059 shares during the period. EULAV Asset Management lifted its holdings in shares of TESARO by 8.3% during the 3rd quarter. EULAV Asset Management now owns 520,000 shares of the biopharmaceutical company’s stock worth $20,285,000 after acquiring an additional 40,000 shares during the period. Finally, Nexthera Capital LP purchased a new position in shares of TESARO during the 2nd quarter worth about $19,278,000.
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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