Tesaro Inc. (NASDAQ:TSRO) had its target price lifted by RBC Capital Markets from $122.00 to $128.00 in a research report sent to investors on Monday morning. RBC Capital Markets currently has an outperform rating on the biopharmaceutical company’s stock.
Several other analysts also recently commented on the stock. Bank of America Corp. initiated coverage on shares of Tesaro in a research report on Tuesday, August 30th. They issued a neutral rating and a $97.00 price target for the company. FBR & Co upped their price target on shares of Tesaro from $102.00 to $115.00 and gave the company an outperform rating in a research report on Monday. Citigroup Inc. upped their price target on shares of Tesaro from $90.00 to $120.00 and gave the company a buy rating in a research report on Monday, August 8th. Mizuho upped their price target on shares of Tesaro from $67.00 to $94.00 and gave the company a buy rating in a research report on Tuesday, July 5th. Finally, Robert W. Baird initiated coverage on shares of Tesaro in a research report on Monday, July 18th. They issued an outperform rating and a $105.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $110.11.
Tesaro (NASDAQ:TSRO) opened at 114.77 on Monday. The stock’s market cap is $5.90 billion. Tesaro has a 12 month low of $29.51 and a 12 month high of $122.89. The stock’s 50 day moving average price is $98.16 and its 200-day moving average price is $70.43.
Tesaro (NASDAQ:TSRO) last released its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) EPS for the quarter, beating the consensus estimate of ($1.71) by $0.43. Tesaro had a negative net margin of 783.97% and a negative return on equity of 205.63%. The firm earned $36.60 million during the quarter, compared to the consensus estimate of $4.98 million. During the same quarter in the prior year, the firm earned ($1.51) EPS. Equities research analysts predict that Tesaro will post ($7.36) EPS for the current year.
In related news, VP Jeffrey H. Hanke sold 29,166 shares of the stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $86.04, for a total value of $2,509,442.64. Following the sale, the vice president now directly owns 29,166 shares of the company’s stock, valued at approximately $2,509,442.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Martin H. Jr. Huber sold 408 shares of the stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $108.12, for a total transaction of $44,112.96. Following the completion of the sale, the senior vice president now directly owns 1,250 shares in the company, valued at $135,150. The disclosure for this sale can be found here. Insiders own 40.50% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Tocqueville Asset Management L.P. boosted its stake in shares of Tesaro by 28.8% in the second quarter. Tocqueville Asset Management L.P. now owns 31,750 shares of the biopharmaceutical company’s stock worth $2,669,000 after buying an additional 7,100 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in shares of Tesaro during the second quarter worth approximately $240,000. Smith Asset Management Group LP acquired a new stake in shares of Tesaro during the second quarter worth approximately $406,000. Parametrica Management Ltd boosted its stake in shares of Tesaro by 144.9% in the second quarter. Parametrica Management Ltd now owns 13,988 shares of the biopharmaceutical company’s stock worth $1,176,000 after buying an additional 8,277 shares during the last quarter. Finally, BNP Paribas Arbitrage SA acquired a new stake in shares of Tesaro during the second quarter worth approximately $941,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.
Tesaro Company Profile
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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