Wedbush Reaffirms “Outperform” Rating for TESARO, Inc. (NASDAQ:TSRO)

TESARO, Inc. (NASDAQ:TSRO)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a report issued on Monday, September 11th. They presently have a $160.00 target price on the biopharmaceutical company’s stock. Wedbush’s target price would suggest a potential upside of 34.83% from the stock’s current price.

TSRO has been the topic of several other research reports. BidaskClub cut shares of TESARO from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Robert W. Baird restated a “neutral” rating on shares of TESARO in a research note on Tuesday, June 6th. Bank of America Corporation restated a “buy” rating and set a $154.00 target price on shares of TESARO in a research note on Tuesday, June 20th. ValuEngine cut shares of TESARO from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Finally, Oppenheimer Holdings, Inc. began coverage on shares of TESARO in a research report on Thursday, May 25th. They set an “outperform” rating and a $183.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $171.42.

Shares of TESARO (NASDAQ TSRO) traded down 0.69% during mid-day trading on Monday, hitting $117.85. 84,688 shares of the stock traded hands. The company’s 50-day moving average price is $121.03 and its 200 day moving average price is $138.94. The company’s market capitalization is $6.39 billion. TESARO has a 1-year low of $96.52 and a 1-year high of $192.94.

TESARO (NASDAQ:TSRO) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($2.82) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($2.52) by ($0.30). The firm had revenue of $29.50 million during 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 business’s revenue for the quarter was down 17.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.28) EPS. Equities research analysts forecast that TESARO will post ($8.61) EPS for the current fiscal year.

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In other TESARO news, VP Grant C. Bogle sold 14,167 shares of TESARO stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $135.00, for a total value of $1,912,545.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Edward C. English sold 10,862 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $134.92, for a total value of $1,465,501.04. Following the completion of the sale, the vice president now directly owns 6,258 shares of the company’s stock, valued at approximately $844,329.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,100 shares of company stock worth $4,558,765. Insiders own 40.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Achmea Investment Management B.V. acquired a new stake in shares of TESARO during the second quarter worth about $234,000. Public Employees Retirement System of Ohio raised its position in TESARO by 82.4% during the second quarter. Public Employees Retirement System of Ohio now owns 36,667 shares of the biopharmaceutical company’s stock valued at $5,128,000 after acquiring an additional 16,569 shares in the last quarter. Intellectus Partners LLC raised its position in TESARO by 17.7% during 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 raised its position in TESARO by 20.8% during 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 raised its position in TESARO by 291.7% during 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.

About TESARO

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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