TESARO (TSRO) Upgraded to Buy by BidaskClub

BidaskClub upgraded shares of TESARO (NASDAQ:TSRO) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

A number of other brokerages have also commented on TSRO. Cann cut their price target on TESARO from $122.00 to $83.00 and set an outperform rating on the stock in a report on Monday, June 11th. Cowen restated a hold rating and issued a $52.00 price target on shares of TESARO in a report on Wednesday, June 27th. Zacks Investment Research lowered TESARO from a hold rating to a sell rating in a report on Tuesday, July 3rd. Barclays upgraded TESARO from an equal weight rating to an overweight rating in a report on Wednesday, June 27th. Finally, HC Wainwright cut their price target on TESARO to $71.00 and set a buy rating on the stock in a report on Friday, July 20th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company’s stock. TESARO presently has an average rating of Buy and a consensus price target of $78.42.

NASDAQ:TSRO opened at $41.91 on Friday. TESARO has a 1 year low of $25.62 and a 1 year high of $125.78. The company has a quick ratio of 3.64, a current ratio of 4.11 and a debt-to-equity ratio of -29.71. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of -4.61 and a beta of 1.00.

TESARO (NASDAQ:TSRO) last posted its earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($3.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.66) by ($0.38). TESARO had a negative net margin of 180.29% and a negative return on equity of 285.30%. The business had revenue of $57.21 million during the quarter, compared to analyst estimates of $65.50 million. During the same period in the previous year, the firm posted ($2.82) earnings per share. The firm’s revenue was up 94.2% on a year-over-year basis. As a group, equities research analysts anticipate that TESARO will post -11.12 earnings per share for the current year.

In related news, Director Arnold L. Oronsky sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $26.77, for a total transaction of $267,700.00. Following the sale, the director now owns 12,479 shares in the company, valued at $334,062.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 10,630 shares of company stock worth $290,424 in the last quarter. 33.70% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp raised its holdings in TESARO by 4.6% during the second quarter. Northern Trust Corp now owns 260,420 shares of the biopharmaceutical company’s stock worth $11,581,000 after acquiring an additional 11,565 shares in the last quarter. Nexthera Capital LP bought a new stake in TESARO during the second quarter worth about $19,278,000. Platinum Investment Management Ltd. bought a new stake in TESARO during the second quarter worth about $765,000. Acuta Capital Partners LLC raised its holdings in TESARO by 100.0% during the second quarter. Acuta Capital Partners LLC now owns 50,000 shares of the biopharmaceutical company’s stock worth $2,224,000 after acquiring an additional 25,000 shares in the last quarter. Finally, Ivory Investment Management LLC raised its holdings in TESARO by 19.9% during the second quarter. Ivory Investment Management LLC now owns 30,254 shares of the biopharmaceutical company’s stock worth $1,346,000 after acquiring an additional 5,019 shares in the last quarter.

About TESARO

Tesaro, Inc, an oncology-focused biopharmaceutical company, identifies, acquires, develops, and commercializes cancer therapeutics and oncology supportive care products in the United States. It offers ZEJULA (niraparib), an orally active and potent poly polymerase inhibitor for the maintenance treatment of women with recurrent epithelial ovarian, fallopian tube, or primary peritoneal cancer; and VARUBI (rolapitant), a neurokinin-1, or NK-1, receptor antagonist for the prevention of chemotherapy induced nausea and vomiting.

Read More: Does the discount rate affect the economy?

Analyst Recommendations for TESARO (NASDAQ:TSRO)

Receive News & Ratings for TESARO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TESARO and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply