Brokers Offer Predictions for Tesaro Inc.’s FY2016 Earnings (TSRO)
Tesaro Inc. (NASDAQ:TSRO) – Stock analysts at SunTrust Banks raised their FY2016 earnings per share estimates for Tesaro in a report released on Thursday. SunTrust Banks analyst P. Lawson now forecasts that the firm will earn ($7.09) per share for the year, up from their previous estimate of ($7.18). SunTrust Banks currently has a “Buy” rating and a $91.60 target price on the stock.
Tesaro (NASDAQ:TSRO) last issued its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.71) by $0.43. Tesaro had a negative net margin of 783.97% and a negative return on equity of 205.63%. The firm had revenue of $36.60 million for the quarter, compared to analyst estimates of $4.98 million. During the same period in the previous year, the business earned ($1.51) EPS.
Several other brokerages have also recently issued reports on TSRO. Leerink Swann restated an “outperform” rating and issued a $115.00 price target (up from $108.00) on shares of Tesaro in a research report on Monday, October 10th. Credit Suisse Group AG reiterated an “outperform” rating and set a $122.00 price objective (up from $90.00) on shares of Tesaro in a research report on Monday, October 10th. Zacks Investment Research cut shares of Tesaro from a “hold” rating to a “sell” rating in a research report on Tuesday, October 11th. Citigroup Inc. reiterated a “buy” rating and set a $125.00 price objective (up from $120.00) on shares of Tesaro in a research report on Wednesday, October 12th. Finally, Royal Bank Of Canada increased their price objective on shares of Tesaro from $122.00 to $128.00 and gave the stock an “outperform” rating in a research report on Monday, October 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company. Tesaro presently has a consensus rating of “Buy” and an average target price of $110.11.
Shares of Tesaro (NASDAQ:TSRO) opened at 110.97 on Monday. Tesaro has a 52 week low of $29.51 and a 52 week high of $122.89. The firm’s market capitalization is $5.70 billion. The firm has a 50-day moving average of $100.54 and a 200 day moving average of $72.11.
In other Tesaro news, VP Edward C. English sold 7,000 shares of the firm’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $88.54, for a total value of $619,780.00. Following the transaction, the vice president now directly owns 3,500 shares of the company’s stock, valued at $309,890. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jeffrey H. Hanke sold 29,166 shares of the firm’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $86.04, for a total transaction of $2,509,442.64. Following the completion of the transaction, the vice president now directly owns 29,166 shares in the company, valued at $2,509,442.64. The disclosure for this sale can be found here. 40.50% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Passport Capital LLC acquired a new position in Tesaro during the second quarter worth $61,720,000. FMR LLC raised its position in 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 during the last quarter. Pictet Asset Management Ltd. raised its position in Tesaro by 661.3% in the second quarter. Pictet Asset Management Ltd. now owns 418,730 shares of the biopharmaceutical company’s stock worth $19,387,000 after buying an additional 363,730 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in Tesaro during the second quarter worth $23,685,000. Finally, Vanguard Group Inc. raised its position in 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 during the last quarter. 88.88% of the stock is currently owned by hedge funds and other 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.
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