TESARO Inc (NASDAQ:TSRO) – Equities researchers at Piper Jaffray Companies lowered their FY2021 earnings estimates for shares of TESARO in a report issued on Monday, December 3rd. Piper Jaffray Companies analyst C. Raymond now forecasts that the biopharmaceutical company will earn $0.56 per share for the year, down from their prior forecast of $0.57. Piper Jaffray Companies also issued estimates for TESARO’s FY2022 earnings at $1.67 EPS.
TESARO (NASDAQ:TSRO) last issued its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($2.49) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($2.62) by $0.13. The firm 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 1,209.72% and a negative net margin of 295.67%. The business’s quarterly revenue was down 54.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.47) earnings per share.
Other research analysts have also issued research reports about the company. Cantor Fitzgerald raised their price objective on TESARO from $57.00 to $68.00 and gave the company a “positive” rating in a research report on Monday, October 22nd. Argus lowered TESARO from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th. Citigroup cut their price objective on TESARO from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, August 29th. Bank of America raised their price objective on TESARO from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Tuesday, September 11th. Finally, Cowen restated a “hold” rating and set a $38.00 price objective on shares of TESARO in a research report on Monday, October 22nd. Fifteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $78.18.
Shares of TESARO stock opened at $73.69 on Tuesday. The stock has a market cap of $2.55 billion, a PE ratio of -8.04 and a beta of 1.49. The company has a quick ratio of 2.83, a current ratio of 3.40 and a debt-to-equity ratio of 3.74. TESARO has a twelve month low of $23.41 and a twelve month high of $87.03.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Great Lakes Advisors LLC purchased a new position in TESARO in the third quarter worth about $4,098,000. Vanguard Group Inc. grew its position in TESARO by 3.6% in the third quarter. Vanguard Group Inc. now owns 3,336,421 shares of the biopharmaceutical company’s stock worth $130,154,000 after acquiring an additional 116,337 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in TESARO by 27.8% in the third quarter. TIAA CREF Investment Management LLC now owns 1,372,970 shares of the biopharmaceutical company’s stock worth $53,560,000 after acquiring an additional 298,457 shares in the last quarter. Teachers Advisors LLC grew its position in TESARO by 53.5% in the third quarter. Teachers Advisors LLC now owns 1,016,420 shares of the biopharmaceutical company’s stock worth $39,651,000 after acquiring an additional 354,177 shares in the last quarter. Finally, Opus Point Partners Management LLC grew its position in TESARO by 720.0% in the third quarter. Opus Point Partners Management LLC now owns 94,300 shares of the biopharmaceutical company’s stock worth $3,679,000 after acquiring an additional 82,800 shares in 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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