Citigroup Inc. reissued their buy rating on shares of Tesaro Inc. (NASDAQ:TSRO) in a report published on Wednesday. The firm currently has a $125.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $120.00.
Several other brokerages have also issued reports on TSRO. Mizuho restated an outperform rating and set a $67.00 price target on shares of Tesaro in a research note on Thursday, June 30th. Lake Street Capital reiterated a buy rating and issued a $114.00 price objective on shares of Tesaro in a research note on Tuesday, September 6th. Robert W. Baird lifted their price objective on shares of Tesaro from $105.00 to $120.00 and gave the company an outperform rating in a research note on Monday, October 10th. FBR & Co reiterated a buy rating on shares of Tesaro in a research note on Thursday, June 30th. Finally, Wells Fargo & Co. reiterated an outperform rating on shares of Tesaro in a research note on Thursday, June 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $110.11.
Tesaro (NASDAQ:TSRO) opened at 115.05 on Wednesday. The company’s market capitalization is $5.91 billion. Tesaro has a 52 week low of $29.51 and a 52 week high of $122.89. The stock has a 50 day moving average price of $99.84 and a 200-day moving average price of $71.24.
Tesaro (NASDAQ:TSRO) last issued its quarterly 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 net margin of 783.97% and a negative return on equity of 205.63%. The company earned $36.60 million during the quarter, compared to analyst estimates of $4.98 million. During the same quarter last year, the business posted ($1.51) EPS. On average, equities analysts predict that Tesaro will post ($7.36) earnings per share for the current fiscal year.
In other 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 completion of the sale, the vice president now directly owns 3,500 shares of the company’s stock, valued at approximately $309,890. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Martin H. Jr. Huber sold 408 shares of Tesaro stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $108.12, for a total transaction of $44,112.96. Following the sale, the senior vice president now directly owns 1,250 shares of the company’s stock, valued at $135,150. The disclosure for this sale can be found here. Insiders own 40.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. CenturyLink Investment Management Co bought a new stake in Tesaro during the third quarter worth about $172,000. Fox Run Management L.L.C. bought a new stake in Tesaro during the third quarter worth about $381,000. Cupps Capital Management LLC bought a new stake in Tesaro during the third quarter worth about $1,725,000. IFP Advisors Inc increased its stake in Tesaro by 109.6% in the second quarter. IFP Advisors Inc now owns 4,208 shares of the biopharmaceutical company’s stock worth $354,000 after buying an additional 2,200 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Tesaro by 24.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 107,043 shares of the biopharmaceutical company’s stock worth $8,997,000 after buying an additional 20,750 shares in the last quarter. 88.88% of the stock is owned by 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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