Leerink Swann Equities Analysts Raise Earnings Estimates for Tesaro Inc. (TSRO)
Tesaro Inc. (NASDAQ:TSRO) – Equities research analysts at Leerink Swann increased their FY2020 earnings estimates for Tesaro in a research report issued to clients and investors on Sunday. Leerink Swann analyst S. Fernandez now expects that the firm will earn $9.47 per share for the year, up from their prior forecast of $8.88. Leerink Swann has a “Outperform” rating and a $115.00 price objective on the stock.
Tesaro (NASDAQ:TSRO) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) earnings per share 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 business earned $36.60 million during the quarter, compared to analyst estimates of $4.98 million. During the same quarter in the previous year, the firm earned ($1.51) EPS.
Other research analysts have also recently issued 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 target for the company. 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 target for the company. FBR & Co lifted their price target on Tesaro from $65.00 to $93.00 and gave the company an “outperform” rating in a research report on Wednesday, June 29th. RBC Capital Markets lifted their price target on Tesaro from $122.00 to $128.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Mizuho restated an “outperform” rating and issued a $67.00 price objective on shares of Tesaro in a research report on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $110.11.
Tesaro (NASDAQ:TSRO) traded up 1.20% during midday trading on Tuesday, hitting $116.15. 1,078,342 shares of the stock traded hands. Tesaro has a 12 month low of $29.51 and a 12 month high of $122.89. The stock’s market cap is $5.97 billion. The company has a 50-day moving average of $98.16 and a 200-day moving average of $70.43.
In other Tesaro news, SVP Martin H. Jr. Huber sold 408 shares of the business’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $108.12, for a total transaction of $44,112.96. Following the transaction, the senior vice president now owns 1,250 shares in the company, valued at $135,150. The sale 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 business’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 transaction, the vice president now owns 3,500 shares in the company, valued at approximately $309,890. The disclosure for this sale can be found here. Company insiders own 40.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in shares of Tesaro by 9.6% in the second quarter. FMR LLC now owns 6,097,449 shares of the biopharmaceutical company’s stock worth $512,490,000 after buying an additional 531,892 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Tesaro by 11.0% in the second quarter. Vanguard Group Inc. now owns 2,216,739 shares of the biopharmaceutical company’s stock worth $186,317,000 after buying an additional 219,902 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Tesaro by 8.2% in the second quarter. BlackRock Fund Advisors now owns 1,399,709 shares of the biopharmaceutical company’s stock worth $117,646,000 after buying an additional 105,803 shares in the last quarter. State Street Corp boosted its position in shares of Tesaro by 12.9% in the second quarter. State Street Corp now owns 1,008,667 shares of the biopharmaceutical company’s stock worth $84,777,000 after buying an additional 114,918 shares in the last quarter. Finally, Passport Capital LLC bought a new position in shares of Tesaro during the second quarter worth approximately $61,720,000. Institutional investors own 88.81% of the company’s stock.
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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