TESARO, Inc. (NASDAQ:TSRO)‘s stock had its “buy” rating reaffirmed by investment analysts at Citigroup Inc. in a report issued on Monday, September 11th. They presently have a $216.00 price objective on the biopharmaceutical company’s stock. Citigroup Inc.’s price target suggests a potential upside of 82.02% from the company’s previous close.
Other research analysts have also issued reports about the stock. Credit Suisse Group set a $198.00 target price on shares of TESARO and gave the stock a “buy” rating in a research note on Monday, June 5th. Cann reissued a “buy” rating and set a $199.00 target price on shares of TESARO in a research note on Monday, June 5th. Oppenheimer Holdings, Inc. set a $199.00 price objective on shares of TESARO and gave the stock a “buy” rating in a report on Sunday, June 4th. Bank of America Corporation restated a “buy” rating and set a $154.00 price objective on shares of TESARO in a report on Tuesday, June 20th. Finally, Gabelli initiated coverage on shares of TESARO in a report on Friday, July 7th. They set a “buy” rating and a $175.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. TESARO currently has a consensus rating of “Buy” and a consensus target price of $171.42.
Shares of TESARO (TSRO) opened at 118.225 on Monday. The firm has a 50-day moving average price of $121.03 and a 200-day moving average price of $138.94. TESARO has a 52-week low of $96.52 and a 52-week high of $192.94. The firm’s market capitalization is $6.41 billion.
TESARO (NASDAQ:TSRO) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($2.82) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.52) by ($0.30). The company had revenue of $29.50 million for the quarter, compared to the consensus estimate of $18.61 million. TESARO had a negative return on equity of 104.00% and a negative net margin of 1,301.19%. The firm’s revenue was down 17.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.28) earnings per share. On average, equities research analysts anticipate that TESARO will post ($8.61) EPS for the current year.
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In other TESARO news, VP Edward C. English sold 10,862 shares of TESARO stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $134.92, for a total transaction of $1,465,501.04. Following the completion of the sale, the vice president now directly owns 6,258 shares in the company, valued at $844,329.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Grant C. Bogle sold 14,167 shares of TESARO stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $135.00, for a total transaction of $1,912,545.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,100 shares of company stock valued at $4,558,765. 40.50% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Achmea Investment Management B.V. purchased a new position in shares of TESARO in the second quarter worth $234,000. Public Employees Retirement System of Ohio increased its stake in shares of TESARO by 82.4% in the second quarter. Public Employees Retirement System of Ohio now owns 36,667 shares of the biopharmaceutical company’s stock worth $5,128,000 after buying an additional 16,569 shares during the period. Intellectus Partners LLC boosted its holdings in TESARO by 17.7% in the second quarter. Intellectus Partners LLC now owns 6,310 shares of the biopharmaceutical company’s stock valued at $883,000 after acquiring an additional 950 shares in the last quarter. California State Teachers Retirement System boosted its holdings in TESARO by 20.8% in the second quarter. California State Teachers Retirement System now owns 68,090 shares of the biopharmaceutical company’s stock valued at $9,523,000 after acquiring an additional 11,706 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in TESARO by 291.7% in the second quarter. Cubist Systematic Strategies LLC now owns 7,105 shares of the biopharmaceutical company’s stock valued at $994,000 after acquiring an additional 5,291 shares in the last quarter.
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.
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