Royal Bank Of Canada Raises Tesaro Inc. (TSRO) Price Target to $128.00
Tesaro Inc. (NASDAQ:TSRO) had its target price lifted by Royal Bank Of Canada from $122.00 to $128.00 in a report released on Monday morning. Royal Bank Of Canada currently has an outperform rating on the biopharmaceutical company’s stock.
A number of other equities research analysts also recently commented on the company. Bank of America Corp. initiated coverage on Tesaro in a research report on Tuesday, August 30th. They issued a neutral rating and a $97.00 target price on the stock. FBR & Co boosted their target price on Tesaro from $102.00 to $115.00 and gave the stock an outperform rating in a research report on Monday. Citigroup Inc. boosted their target price on Tesaro from $90.00 to $120.00 and gave the stock a buy rating in a research report on Monday, August 8th. Mizuho boosted their target price on Tesaro from $67.00 to $94.00 and gave the stock a buy rating in a research report on Tuesday, July 5th. Finally, Robert W. Baird initiated coverage on Tesaro in a research report on Monday, July 18th. They issued an outperform rating and a $105.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $110.11.
Shares of Tesaro (NASDAQ:TSRO) opened at 116.15 on Monday. The stock has a 50 day moving average price of $98.99 and a 200-day moving average price of $70.75. Tesaro has a 12 month low of $29.51 and a 12 month high of $122.89. The company’s market capitalization is $5.97 billion.
Tesaro (NASDAQ:TSRO) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.71) by $0.43. The firm earned $36.60 million during the quarter, compared to analyst estimates of $4.98 million. Tesaro had a negative return on equity of 205.63% and a negative net margin of 783.97%. During the same quarter in the prior year, the company posted ($1.51) earnings per share. Analysts expect that Tesaro will post ($7.36) earnings per share for the current fiscal year.
In other news, VP Edward C. English sold 7,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $309,890. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jeffrey H. Hanke sold 29,166 shares of the company’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $86.04, for a total value of $2,509,442.64. Following the sale, the vice president now directly owns 29,166 shares in the company, valued at approximately $2,509,442.64. The disclosure for this sale can be found here. Insiders own 40.50% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. CenturyLink Investment Management Co bought a new stake in Tesaro during the third quarter worth $172,000. KCG Holdings Inc. purchased a new position in shares of Tesaro during the second quarter worth approximately $228,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Tesaro during the second quarter worth approximately $240,000. Bluestein R H & Co. purchased a new position in shares of Tesaro during the second quarter worth approximately $252,000. Finally, Neuberger Berman Group LLC purchased a new position in shares of Tesaro during the second quarter worth approximately $256,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.
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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