SunTrust Banks Comments on Tesaro Inc.’s FY2017 Earnings (TSRO)
Tesaro Inc. (NASDAQ:TSRO) – Analysts at SunTrust Banks decreased their FY2017 earnings estimates for shares of Tesaro in a research note issued on Tuesday. SunTrust Banks analyst P. Lawson now forecasts that the brokerage will post earnings per share of ($6.88) for the year, down from their prior forecast of ($6.78). SunTrust Banks currently has a “Buy” rating and a $91.60 target price on the stock. SunTrust Banks also issued estimates for Tesaro’s FY2018 earnings at ($3.23) EPS and FY2020 earnings at $6.00 EPS.
Other equities research analysts have also issued research reports about the company. Robert W. Baird began coverage on Tesaro in a research report on Monday, July 18th. They set an “outperform” rating and a $105.00 price objective on the stock. Royal Bank Of Canada began coverage on Tesaro in a research report on Friday, August 12th. They set an “outperform” rating and a $122.00 price objective on the stock. FBR & Co boosted their price objective on Tesaro from $65.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 29th. Mizuho reiterated an “outperform” rating and issued a $67.00 price target on shares of Tesaro in a research report on Thursday, June 30th. Finally, Wedbush reiterated a “buy” rating on shares of Tesaro in a research report on Friday, August 5th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $94.40.
Shares of Tesaro (NASDAQ:TSRO) traded down 0.34% during midday trading on Friday, reaching $100.24. The company had a trading volume of 1,293,548 shares. Tesaro has a 12-month low of $29.51 and a 12-month high of $110.48. The stock’s market capitalization is $5.15 billion. The stock’s 50 day moving average is $95.75 and its 200-day moving average is $66.93.
Tesaro (NASDAQ:TSRO) last announced its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, beating 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 business had revenue of $36.60 million for the quarter, compared to analyst estimates of $4.98 million. During the same quarter last year, the firm earned ($1.51) EPS.
In related news, VP Edward C. English sold 7,000 shares of the company’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $88.54, for a total transaction of $619,780.00. Following the sale, the vice president now owns 3,500 shares in the company, valued at approximately $309,890. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jeffrey H. Hanke sold 29,166 shares of the company’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $86.04, for a total value of $2,509,442.64. Following the sale, the vice president now owns 29,166 shares in the company, valued at approximately $2,509,442.64. The disclosure for this sale can be found here. Corporate insiders own 40.50% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. IFP Advisors Inc raised its stake in shares of Tesaro by 109.6% in the second quarter. IFP Advisors Inc now owns 4,208 shares of the biopharmaceutical company’s stock valued at $354,000 after buying an additional 2,200 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Tesaro by 24.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 107,043 shares of the biopharmaceutical company’s stock valued at $8,997,000 after buying an additional 20,750 shares during the last quarter. Amalgamated Bank acquired a new stake in shares of Tesaro during the second quarter valued at approximately $260,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Tesaro by 3.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 19,006 shares of the biopharmaceutical company’s stock valued at $1,597,000 after buying an additional 637 shares during the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in shares of Tesaro during the second quarter valued at approximately $3,584,000. Institutional investors own 88.81% of the company’s stock.
Tesaro Company Profile
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.
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