Morgan Stanley Trims TESARO (TSRO) Target Price to $156.00

TESARO (NASDAQ:TSRO) had its price objective decreased by Morgan Stanley from $165.00 to $156.00 in a research note issued to investors on Tuesday morning, Marketbeat reports. Morgan Stanley currently has an overweight rating on the biopharmaceutical company’s stock.

Several other equities analysts have also recently weighed in on the company. HC Wainwright reiterated a buy rating and issued a $158.00 price target on shares of TESARO in a research report on Friday, January 12th. Zacks Investment Research cut TESARO from a hold rating to a sell rating in a research report on Thursday, January 11th. Cowen reduced their price target on TESARO from $125.00 to $80.00 and set a market perform rating for the company in a research report on Tuesday, January 2nd. Piper Jaffray Companies reiterated a hold rating and issued a $80.00 price target on shares of TESARO in a research report on Tuesday, January 2nd. Finally, Citigroup reiterated a buy rating and issued a $135.00 price target (down from $216.00) on shares of TESARO in a research report on Wednesday, December 20th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. TESARO currently has an average rating of Hold and a consensus target price of $152.26.

TESARO (NASDAQ:TSRO) traded down $3.66 during trading hours on Tuesday, reaching $61.86. The company’s stock had a trading volume of 2,198,296 shares, compared to its average volume of 1,391,990. The company has a quick ratio of 4.35, a current ratio of 4.73 and a debt-to-equity ratio of 0.34. TESARO has a twelve month low of $61.68 and a twelve month high of $192.94. The stock has a market capitalization of $3,360.00, a P/E ratio of -7.34 and a beta of 1.51.

TESARO (NASDAQ:TSRO) last announced its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.47) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.16) by $0.69. The company had revenue of $142.77 million during the quarter, compared to analysts’ expectations of $130.57 million. TESARO had a negative return on equity of 93.39% and a negative net margin of 251.22%. The firm’s quarterly revenue was up 740.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.72) earnings per share. analysts forecast that TESARO will post -8.19 EPS for the current year.

In related news, SVP Martin H. Jr. Huber sold 829 shares of TESARO stock in a transaction on Monday, December 4th. The stock was sold at an average price of $85.24, for a total transaction of $70,663.96. Following the completion of the sale, the senior vice president now owns 8,101 shares of the company’s stock, valued at $690,529.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 34.60% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of TSRO. Janus Henderson Group PLC bought a new stake in TESARO during the second quarter worth about $100,301,000. PointState Capital LP bought a new stake in TESARO during the second quarter worth about $85,971,000. TimesSquare Capital Management LLC bought a new stake in TESARO during the third quarter worth about $33,911,000. Pictet Asset Management Ltd. lifted its stake in TESARO by 58.1% during the third quarter. Pictet Asset Management Ltd. now owns 630,904 shares of the biopharmaceutical company’s stock worth $81,450,000 after purchasing an additional 231,799 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in TESARO by 5.7% during the second quarter. BlackRock Inc. now owns 3,605,247 shares of the biopharmaceutical company’s stock worth $504,230,000 after purchasing an additional 195,590 shares during the last quarter.

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TESARO Company Profile

TESARO, Inc is an oncology-focused biopharmaceutical company. The Company operates through the business of developing and commercializing of oncology-focused therapeutics segment. It is developing oncology-related product candidates, including rolapitant, niraparib and the product candidates under its immuno-oncology platform.

Analyst Recommendations for TESARO (NASDAQ:TSRO)

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