TESARO (TSRO) Rating Lowered to Outperform at Evercore ISI

TESARO (NASDAQ:TSRO) was downgraded by equities researchers at Evercore ISI to an “outperform” rating in a report released on Tuesday, The Fly reports.

Several other research firms have also recently issued reports on TSRO. HC Wainwright reaffirmed a “buy” rating and set a $69.00 price objective on shares of TESARO in a research report on Monday. Wells Fargo & Co cut TESARO from an “outperform” rating to a “market perform” rating in a research report on Monday. Robert W. Baird set a $75.00 price objective on TESARO and gave the stock a “hold” rating in a research report on Monday. SunTrust Banks cut TESARO from a “buy” rating to a “hold” rating and upped their price objective for the stock from $65.00 to $75.00 in a research report on Monday. Finally, Gabelli cut TESARO from a “buy” rating to a “hold” rating in a research report on Monday. Fifteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $78.18.

NASDAQ:TSRO 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. TESARO has a 1 year low of $23.41 and a 1 year high of $87.03. 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 (NASDAQ:TSRO) last released its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($2.49) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.62) by $0.13. The business had revenue of $64.40 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the firm posted ($0.47) EPS. As a group, research analysts forecast that TESARO will post -10.92 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. US Bancorp DE lifted its holdings in shares of TESARO by 163.5% in the 3rd quarter. US Bancorp DE now owns 3,940 shares of the biopharmaceutical company’s stock valued at $153,000 after purchasing an additional 2,445 shares during the last quarter. New Jersey Better Educational Savings Trust purchased a new stake in TESARO during the 3rd quarter valued at approximately $234,000. Janney Montgomery Scott LLC purchased a new stake in TESARO during the 2nd quarter valued at approximately $257,000. Pacer Advisors Inc. purchased a new stake in TESARO during the 3rd quarter valued at approximately $273,000. Finally, BTG Pactual Global Asset Management Ltd purchased a new stake in TESARO during the 2nd quarter valued at approximately $277,000.

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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