TESARO (NASDAQ:TSRO)‘s stock had its “hold” rating restated by research analysts at Cowen in a research report issued on Friday. They currently have a $38.00 target price on the biopharmaceutical company’s stock. Cowen’s price objective indicates a potential upside of 19.20% from the stock’s current price.
Several other brokerages have also issued reports on TSRO. BidaskClub lowered TESARO from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 25th. Cann reiterated a “buy” rating and set a $83.00 price objective on shares of TESARO in a report on Tuesday, September 4th. Leerink Swann started coverage on TESARO in a report on Monday, September 24th. They set an “outperform” rating and a $48.00 price objective for the company. Citigroup cut their price objective on TESARO from $100.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, August 29th. Finally, Cantor Fitzgerald started coverage on TESARO in a report on Monday, October 1st. They set an “overweight” rating and a $57.00 price objective for the company. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $78.26.
TSRO opened at $31.88 on Friday. The firm has a market capitalization of $1.71 billion, a PE ratio of -3.48 and a beta of 1.01. TESARO has a 12-month low of $25.62 and a 12-month high of $114.05. The company has a quick ratio of 3.64, a current ratio of 4.11 and a debt-to-equity ratio of 3.74.
TESARO (NASDAQ:TSRO) last released its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($2.49) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($2.62) by $0.13. The company had revenue of $64.40 million during the quarter, compared to analyst estimates of $71.84 million. TESARO had a negative return on equity of 285.30% and a negative net margin of 180.29%. The company’s revenue for the quarter was down 54.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.47) earnings per share. Sell-side analysts anticipate that TESARO will post -11.15 EPS for the current fiscal year.
In other TESARO news, Director Arnold L. Oronsky sold 10,000 shares of the stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $26.77, for a total transaction of $267,700.00. Following the transaction, the director now directly owns 12,479 shares of the company’s stock, valued at $334,062.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 10,443 shares of company stock worth $283,996 over the last three months. Company insiders own 33.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of TSRO. Frontier Capital Management Co. LLC increased its position in TESARO by 628.3% during the second quarter. Frontier Capital Management Co. LLC now owns 1,764,417 shares of the biopharmaceutical company’s stock worth $78,464,000 after buying an additional 1,522,157 shares during the last quarter. BB Biotech AG increased its position in TESARO by 48.9% during the second quarter. BB Biotech AG now owns 2,426,802 shares of the biopharmaceutical company’s stock worth $107,920,000 after buying an additional 797,059 shares during the last quarter. Nexthera Capital LP acquired a new position in TESARO during the second quarter worth $19,278,000. Point72 Asset Management L.P. acquired a new position in TESARO during the second quarter worth $15,960,000. Finally, BlackRock Inc. increased its position in TESARO by 5.8% during the second quarter. BlackRock Inc. now owns 4,221,311 shares of the biopharmaceutical company’s stock worth $187,720,000 after buying an additional 231,196 shares during the last quarter.
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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