Tesaro Inc. (NASDAQ:TSRO) – Equities research analysts at Wedbush reduced their Q3 2016 earnings per share estimates for shares of Tesaro in a report issued on Monday. Wedbush analyst D. Nierengarten now forecasts that the brokerage will post earnings of ($1.97) per share for the quarter, down from their previous estimate of ($1.90). Wedbush currently has a “Outperform” rating and a $139.00 price target on the stock. Wedbush also issued estimates for Tesaro’s Q4 2016 earnings at ($2.01) EPS, FY2016 earnings at ($7.47) EPS, Q1 2017 earnings at ($2.00) EPS, Q2 2017 earnings at ($1.97) EPS, Q3 2017 earnings at ($2.23) EPS, Q4 2017 earnings at ($1.57) EPS, FY2017 earnings at ($7.76) EPS, FY2018 earnings at ($3.33) EPS, FY2019 earnings at $4.00 EPS and FY2020 earnings at $14.64 EPS.
Tesaro (NASDAQ:TSRO) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.71) by $0.43. Tesaro had a negative return on equity of 205.63% and a negative net margin of 783.97%. The firm had revenue of $36.60 million for the quarter, compared to analysts’ expectations of $4.98 million. During the same period in the previous year, the firm posted ($1.51) earnings per share.
A number of other equities analysts have also recently weighed in on TSRO. FBR & Co reaffirmed a “buy” rating on shares of Tesaro in a research report on Thursday, June 30th. Zacks Investment Research raised shares of Tesaro from a “sell” rating to a “hold” rating in a research report on Tuesday, July 5th. SunTrust Banks Inc. reissued a “buy” rating and issued a $91.60 price target on shares of Tesaro in a research report on Wednesday, September 14th. Citigroup Inc. reissued a “buy” rating and issued a $125.00 price target (up previously from $120.00) on shares of Tesaro in a research report on Wednesday. Finally, Credit Suisse Group AG reissued an “outperform” rating and issued a $122.00 price target (up previously from $90.00) on shares of Tesaro in a research report on Monday. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $110.11.
Shares of Tesaro (NASDAQ:TSRO) traded down 0.15% during midday trading on Wednesday, hitting $115.16. The stock had a trading volume of 349,053 shares. Tesaro has a 52-week low of $29.51 and a 52-week high of $122.89. The stock’s market cap is $5.92 billion. The firm has a 50 day moving average price of $97.53 and a 200-day moving average price of $70.11.
A number of large investors have recently made changes to their positions in TSRO. KCG Holdings Inc. acquired a new position in Tesaro during the second quarter worth approximately $228,000. Quantitative Systematic Strategies LLC acquired a new position in Tesaro during the second quarter worth approximately $240,000. Bluestein R H & Co. acquired a new position in Tesaro during the second quarter worth approximately $252,000. Neuberger Berman Group LLC acquired a new position in Tesaro during the second quarter worth approximately $256,000. Finally, Amalgamated Bank acquired a new position in Tesaro during the second quarter worth approximately $260,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.
In related news, VP Jeffrey H. Hanke sold 29,166 shares of Tesaro stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $86.04, for a total transaction of $2,509,442.64. Following the sale, the vice president now directly owns 29,166 shares in the company, valued at approximately $2,509,442.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Edward C. English sold 7,000 shares of Tesaro stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $88.54, for a total transaction of $619,780.00. Following the sale, the vice president now owns 3,500 shares in the company, valued at $309,890. The disclosure for this sale can be found here. Corporate insiders own 40.50% of the company’s stock.
TESARO, Inc is an oncology-focused biopharmaceutical company. The Company acquires, in-licenses and develops oncology product candidates. It operates in business of developing and commercializing oncology-focused therapeutics segment. It has in-licensed and are developing oncology-related product candidates, including intravenous (IV) rolapitant and niraparib, as well as product candidates under its immuno-oncology platform.
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