Tesaro Inc. (NASDAQ:TSRO) had its price objective lifted by Wedbush from $107.00 to $139.00 in a report published on Monday. Wedbush currently has an outperform rating on the biopharmaceutical company’s stock.
“sees the clinical benefit of niraparib in HRD-negative patients as likely leading to approval in the entire platinum-sensitive ovarian market.”Waltham, Massachusetts-based TESARO, has an approved product in Varubi (rolapitant) for the prevention of delayed nausea and vomiting associated with emetogenic chemotherapy. The company is also developing its Phase 3 asset, niraparib, a PARP inhibitor in ovarian and breast cancer indications.TESARO said it would file NDA and MAA for all patients with recurrent, platinum-sensitive ovarian cancer in the fourth quarter 2016.”[W]e see the lack of requirement for a companion diagnostic for niraparib in these patients as a potential advantage over competing PARP inhibitors,” analyst David Nierengarten wrote in a note.Related Link: 16 Stocks Moving In Monday’s Pre-Market SessionNierengarten, who expects niraparib to be launched in the United States in mid-2017, now assumes 50 percent peak penetration into the platinum-sensitive market (up from 20 percent) and cuts peak penetration into the platinum-resistant market to 15 percent from a previous 25 percent.”These changes raise our 2021 niraparib sales estimate to $2.2 billion (from $1.6 billion), which also includes revenues from metastatic breast cancer gBRCAmut patients,” Nierengarten highlighted.The analyst says 50 percent peak market share is achievable given the favorable comparison of niraparib with data from olaparib-treated patients and olaparib being limited to gBRCA patients only. Nierengarten also noted niraparib has first-mover advantage in this treatment setting versus rucaparib.”Underwhelming data from rucaparib in the third line setting presented at ESMO gives us greater confidence that niraparib will be the market leader in the earlier line of therapy, especially if a companion diagnostic is required,,” the firm’s analyst wrote.
Other research analysts also recently issued research reports about the company. Robert W. Baird assumed coverage on Tesaro in a research note on Monday, July 18th. They set an outperform rating and a $105.00 target price for the company. Royal Bank Of Canada assumed coverage on Tesaro in a research note on Friday, August 12th. They set an outperform rating and a $122.00 target price for the company. FBR & Co boosted their target price on Tesaro from $65.00 to $93.00 and gave the stock an outperform rating in a research note on Wednesday, June 29th. Mizuho reissued an outperform rating and set a $67.00 target price on shares of Tesaro in a research note on Thursday, June 30th. Finally, RBC Capital Markets assumed coverage on Tesaro in a research note on Friday, August 12th. They set an outperform rating and a $122.00 target price for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $110.11.
Shares of Tesaro (NASDAQ:TSRO) opened at 116.15 on Monday. Tesaro has a 12 month low of $29.51 and a 12 month high of $122.89. The firm’s market capitalization is $5.97 billion. The company has a 50 day moving average of $98.99 and a 200-day moving average of $70.75.
Tesaro (NASDAQ:TSRO) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.71) by $0.43. The firm earned $36.60 million during the quarter, compared to the consensus estimate of $4.98 million. Tesaro had a negative return on equity of 205.63% and a negative net margin of 783.97%. During the same quarter in the previous year, the firm earned ($1.51) earnings per share. Analysts predict that Tesaro will post ($7.36) EPS for the current year.
In other news, SVP Martin H. Jr. Huber sold 408 shares of Tesaro stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $108.12, for a total value of $44,112.96. Following the sale, the senior vice president now directly owns 1,250 shares in the company, valued at approximately $135,150. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Jeffrey H. Hanke sold 29,166 shares of Tesaro stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $86.04, for a total value of $2,509,442.64. Following the completion of the sale, the vice president now owns 29,166 shares in the company, valued at $2,509,442.64. The disclosure for this sale can be found here. 40.50% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. BlackRock Fund Advisors raised its stake in shares of Tesaro by 1.8% in the first quarter. BlackRock Fund Advisors now owns 1,293,906 shares of the biopharmaceutical company’s stock worth $56,971,000 after buying an additional 23,384 shares in the last quarter. BlackRock Inc. raised its stake in shares of Tesaro by 13.3% in the first quarter. BlackRock Inc. now owns 7,096 shares of the biopharmaceutical company’s stock worth $312,000 after buying an additional 834 shares in the last quarter. venBio Select Advisor LLC acquired a new stake in shares of Tesaro during the first quarter worth $6,605,000. Pictet Asset Management Ltd. raised its stake in shares of Tesaro by 35.8% in the first quarter. Pictet Asset Management Ltd. now owns 55,000 shares of the biopharmaceutical company’s stock worth $2,225,000 after buying an additional 14,500 shares in the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of Tesaro during the second quarter worth $23,685,000. Hedge funds and other institutional investors own 88.81% 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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