Tesaro’s (TSRO) “Buy” Rating Reaffirmed at SunTrust Banks Inc.
SunTrust Banks Inc. reissued their buy rating on shares of Tesaro Inc. (NASDAQ:TSRO) in a report issued on Wednesday. They currently have a $91.60 price objective on the biopharmaceutical company’s stock.
Other equities analysts have also recently issued research reports about the company. Robert W. Baird began coverage on Tesaro in a report on Monday, July 18th. They set an outperform rating and a $105.00 target price on the stock. Royal Bank Of Canada began coverage on Tesaro in a report on Friday, August 12th. They set an outperform rating and a $122.00 target price on the stock. FBR & Co raised their target price on Tesaro from $65.00 to $93.00 and gave the stock an outperform rating in a report on Wednesday, June 29th. Mizuho restated an outperform rating and set a $67.00 target price on shares of Tesaro in a report on Thursday, June 30th. Finally, Wedbush restated a buy rating on shares of Tesaro in a report on Friday, August 5th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $94.40.
Shares of Tesaro (NASDAQ:TSRO) opened at 103.26 on Wednesday. The company’s market cap is $5.30 billion. The company has a 50 day moving average price of $92.62 and a 200 day moving average price of $63.23. Tesaro has a 52 week low of $29.51 and a 52 week high of $108.27.
Tesaro (NASDAQ:TSRO) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.71) by $0.43. Tesaro had a negative return on equity of 205.63% and a negative net margin of 783.97%. The firm had revenue of $36.60 million for the quarter, compared to analysts’ expectations of $4.98 million. During the same quarter last year, the business earned ($1.51) earnings per share. On average, equities analysts expect that Tesaro will post ($7.33) earnings per share for the current year.
In other news, VP Jeffrey H. Hanke sold 29,166 shares of the firm’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $86.04, for a total transaction of $2,509,442.64. Following the sale, the vice president now owns 29,166 shares of the company’s stock, valued at $2,509,442.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Edward C. English sold 7,000 shares of the firm’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $88.54, for a total value of $619,780.00. Following the sale, the vice president now directly owns 3,500 shares in the company, valued at approximately $309,890. The disclosure for this sale can be found here. Insiders own 40.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in TSRO. Pioneer Investment Management Inc. raised its stake in Tesaro by 4.3% in the fourth quarter. Pioneer Investment Management Inc. now owns 124,349 shares of the biopharmaceutical company’s stock worth $6,506,000 after buying an additional 5,118 shares in the last quarter. Parametrica Management Ltd acquired a new stake in Tesaro during the first quarter worth approximately $251,000. Pacad Investment Ltd. acquired a new stake in Tesaro during the first quarter worth approximately $626,000. BlackRock Inc. raised its stake in Tesaro by 13.3% in the first quarter. BlackRock Inc. now owns 7,096 shares of the biopharmaceutical company’s stock worth $312,000 after buying an additional 834 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in Tesaro by 7.9% in the first quarter. BlackRock Group LTD now owns 162,499 shares of the biopharmaceutical company’s stock worth $7,154,000 after buying an additional 11,880 shares in the last quarter. 88.87% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Tesaro Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesaro Inc. and related companies with MarketBeat.com's FREE daily email newsletter.