Credit Suisse Group AG reissued their outperform rating on shares of Tesaro Inc. (NASDAQ:TSRO) in a research report released on Monday morning. They currently have a $122.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $90.00.
“Our M&A DCF valuations range from $122 to $157 by our model. We have also built models for other cancers like NSCLC, SCLC, prostate, and others where PARP might be impactful. We assume 0 percent POS for now but we conservatively see at least another $1 billion in sales from PARP expansion,” analyst Alethia Young wrote in a note.”For a large Pharma player who already has an oncology salesforce and large R&D infrastructure we could see SG&A synergies of 50–75 percent and R&D synergies of 15–30 percent. In our base case TSRO P&L we model a tax rate of 30 percent so there could be synergies here as well,” Young added.Young also sees further upside to valuation in the long-term from:”PARP expansion in other platinum sensitive tumors.””Potential HRD- sales in 1L as we expect the company will amend the protocol.””Readouts in breast cancer PARP studies in ’17.””Immuno-oncology where we expect early data over 2017.,” the firm’s analyst commented.
A number of other equities analysts have also recently weighed in on the stock. Leerink Swann reaffirmed an outperform rating and set a $115.00 price objective (up previously from $108.00) on shares of Tesaro in a research report on Monday. Robert W. Baird raised their price target on shares of Tesaro from $105.00 to $120.00 and gave the company an outperform rating in a research report on Monday. RBC Capital Markets raised their price target on shares of Tesaro from $122.00 to $128.00 and gave the company an outperform rating in a research report on Monday. Wedbush raised their price target on shares of Tesaro from $107.00 to $139.00 and gave the company an outperform rating in a research report on Monday. Finally, Royal Bank Of Canada raised their price target on shares of Tesaro from $122.00 to $128.00 and gave the company an outperform rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company. Tesaro currently has a consensus 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 one year low of $29.51 and a one year high of $122.89. The stock’s market capitalization is $5.97 billion. The stock’s 50 day moving average is $98.99 and its 200-day moving average is $70.75.
Tesaro (NASDAQ:TSRO) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.71) by $0.43. The firm earned $36.60 million during the quarter, compared to analysts’ expectations of $4.98 million. Tesaro had a negative net margin of 783.97% and a negative return on equity of 205.63%. During the same quarter last year, the company posted ($1.51) EPS. On average, equities research analysts predict that Tesaro will post ($7.36) EPS for the current fiscal year.
In related news, VP Edward C. English sold 7,000 shares of Tesaro stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $88.54, for a total transaction of $619,780.00. Following the sale, the vice president now directly owns 3,500 shares in the company, valued at approximately $309,890. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jeffrey H. Hanke sold 29,166 shares of Tesaro stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $86.04, for a total transaction of $2,509,442.64. Following 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. Corporate insiders own 40.50% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. FMR LLC raised its stake in shares of Tesaro by 9.6% in the second quarter. FMR LLC now owns 6,097,449 shares of the biopharmaceutical company’s stock valued at $512,490,000 after buying an additional 531,892 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Tesaro by 11.0% in the second quarter. Vanguard Group Inc. now owns 2,216,739 shares of the biopharmaceutical company’s stock valued at $186,317,000 after buying an additional 219,902 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Tesaro by 8.2% in the second quarter. BlackRock Fund Advisors now owns 1,399,709 shares of the biopharmaceutical company’s stock valued at $117,646,000 after buying an additional 105,803 shares in the last quarter. State Street Corp raised its stake in shares of Tesaro by 12.9% in the second quarter. State Street Corp now owns 1,008,667 shares of the biopharmaceutical company’s stock valued at $84,777,000 after buying an additional 114,918 shares in the last quarter. Finally, Passport Capital LLC bought a new stake in shares of Tesaro during the second quarter valued at approximately $61,720,000. 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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