Morgan Stanley Reaffirms Overweight Rating for TESARO Inc (NASDAQ:TSRO)

TESARO Inc (NASDAQ:TSRO)‘s stock had its “overweight” rating reissued by analysts at Morgan Stanley in a report issued on Wednesday, November 8th. They currently have a $165.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $181.00. Morgan Stanley’s target price would suggest a potential upside of 102.40% from the company’s previous close.

A number of other equities analysts also recently issued reports on TSRO. Credit Suisse Group set a $198.00 price objective on shares of TESARO and gave the stock a “buy” rating in a report on Wednesday, July 19th. Cann reissued a “buy” rating and issued a $199.00 price objective on shares of TESARO in a report on Friday, September 8th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $235.00 price objective on shares of TESARO in a report on Sunday, August 20th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating and set a $199.00 price target on shares of TESARO in a report on Sunday, September 10th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $216.00 price target on shares of TESARO in a report on Monday, September 11th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $161.72.

Shares of TESARO (NASDAQ:TSRO) opened at $81.52 on Wednesday. TESARO has a 12 month low of $80.99 and a 12 month high of $192.94. The company has a current ratio of 4.73, a quick ratio of 4.35 and a debt-to-equity ratio of 0.34.

TESARO (NASDAQ:TSRO) last announced its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.69. TESARO had a negative net margin of 17.71% and a negative return on equity of 25.12%. The firm had revenue of $142.77 million during the quarter, compared to analyst estimates of $130.57 million. During the same period in the previous year, the business posted ($1.72) earnings per share. The business’s revenue for the quarter was up 740.3% on a year-over-year basis. equities analysts expect that TESARO will post -8.16 EPS for the current fiscal year.

In related news, VP Grant C. Bogle sold 14,167 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $135.00, for a total value of $1,912,545.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Edward C. English sold 10,862 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was 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 owns 6,258 shares in the company, valued at approximately $844,329.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,692 shares of company stock worth $4,628,976. Company insiders own 40.50% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Hanseatic Management Services Inc. increased its position in TESARO by 0.3% in the second quarter. Hanseatic Management Services Inc. now owns 5,936 shares of the biopharmaceutical company’s stock worth $830,000 after purchasing an additional 15 shares during the last quarter. Stephens Inc. AR increased its position in TESARO by 6.5% in the second quarter. Stephens Inc. AR now owns 1,874 shares of the biopharmaceutical company’s stock worth $262,000 after purchasing an additional 115 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its position in TESARO by 1.1% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 12,092 shares of the biopharmaceutical company’s stock worth $1,690,000 after purchasing an additional 136 shares during the last quarter. Aperio Group LLC increased its position in TESARO by 4.5% in the second quarter. Aperio Group LLC now owns 3,658 shares of the biopharmaceutical company’s stock worth $512,000 after purchasing an additional 156 shares during the last quarter. Finally, IFP Advisors Inc increased its position in TESARO by 6.3% in the second quarter. IFP Advisors Inc now owns 4,471 shares of the biopharmaceutical company’s stock worth $625,000 after purchasing an additional 265 shares during the last quarter.

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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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