Wedbush Downgrades TESARO (TSRO) to Neutral

TESARO (NASDAQ:TSRO) was downgraded by analysts at Wedbush from an “outperform” rating to a “neutral” rating in a research report issued on Tuesday, MarketBeat Ratings reports. They presently have a $75.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $60.00. Wedbush’s target price suggests a potential upside of 1.78% from the company’s previous close.

TSRO has been the topic of a number of other research reports. Cann reissued a “buy” rating and issued a $83.00 target price on shares of TESARO in a report on Tuesday, September 4th. BidaskClub raised TESARO from a “buy” rating to a “strong-buy” rating in a report on Friday, October 19th. Cantor Fitzgerald reissued a “buy” rating and issued a $68.00 target price on shares of TESARO in a report on Monday, November 19th. Guggenheim started coverage on TESARO in a report on Monday, September 17th. They issued a “buy” rating on the stock. Finally, Oppenheimer set a $83.00 target price on TESARO and gave the company a “buy” rating in a report on Sunday, November 11th. Fifteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. TESARO presently has an average rating of “Hold” and an average target price of $78.18.

TSRO stock opened at $73.69 on Tuesday. TESARO has a fifty-two week low of $23.41 and a fifty-two week high of $87.03. The company has a debt-to-equity ratio of 3.74, a quick ratio of 2.83 and a current ratio of 3.40. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -8.04 and a beta of 1.49.

TESARO (NASDAQ:TSRO) last posted its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($2.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.62) by $0.13. TESARO had a negative return on equity of 1,209.72% and a negative net margin of 295.67%. The company had revenue of $64.40 million for the quarter, compared to the consensus estimate of $71.84 million. During the same quarter in the prior year, the company earned ($0.47) earnings per share. TESARO’s revenue was down 54.9% on a year-over-year basis. On average, equities analysts predict that TESARO will post -10.92 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in TSRO. US Bancorp DE grew its position in shares of TESARO by 163.5% during the third quarter. US Bancorp DE now owns 3,940 shares of the biopharmaceutical company’s stock worth $153,000 after purchasing an additional 2,445 shares in the last quarter. New Jersey Better Educational Savings Trust purchased a new stake in shares of TESARO during the third quarter worth about $234,000. Janney Montgomery Scott LLC purchased a new stake in shares of TESARO during the second quarter worth about $257,000. Pacer Advisors Inc. purchased a new stake in shares of TESARO during the third quarter worth about $273,000. Finally, BTG Pactual Global Asset Management Ltd purchased a new stake in shares of TESARO during the second quarter worth about $277,000.

About TESARO

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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Analyst Recommendations for TESARO (NASDAQ:TSRO)

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