TESARO (TSRO) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of TESARO (NASDAQ:TSRO) from a hold rating to a buy rating in a report issued on Friday morning.

TSRO has been the subject of several other reports. Cann restated a buy rating and set a $83.00 price target on shares of TESARO in a research report on Tuesday, September 4th. HC Wainwright lowered their price target on TESARO to $71.00 and set a buy rating for the company in a research report on Friday, July 20th. Zacks Investment Research upgraded TESARO from a sell rating to a hold rating in a research report on Tuesday, July 17th. Guggenheim initiated coverage on TESARO in a research report on Monday, September 17th. They set a buy rating for the company. Finally, BidaskClub upgraded TESARO from a hold rating to a buy rating in a research report on Friday, October 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $78.42.

Shares of TSRO traded up $1.95 during midday trading on Friday, hitting $40.60. 1,670,395 shares of the stock were exchanged, compared to its average volume of 1,578,841. TESARO has a 52-week low of $25.62 and a 52-week high of $125.78. The firm has a market cap of $2.14 billion, a P/E ratio of -4.43 and a beta of 1.00. The company has a quick ratio of 3.64, a current ratio of 4.11 and a debt-to-equity ratio of -29.71.

TESARO (NASDAQ:TSRO) last released its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($3.04) EPS for the quarter, missing the consensus estimate of ($2.66) by ($0.38). TESARO had a negative return on equity of 285.30% and a negative net margin of 180.29%. The firm had revenue of $57.21 million for the quarter, compared to analysts’ expectations of $65.50 million. During the same quarter in the prior year, the business earned ($2.82) earnings per share. The company’s quarterly revenue was up 94.2% on a year-over-year basis. Sell-side analysts expect that TESARO will post -11.12 earnings per share for the current year.

In other TESARO news, Director Arnold L. Oronsky sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $26.77, for a total value of $267,700.00. Following the sale, the director now directly owns 12,479 shares in the company, valued at $334,062.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 10,630 shares of company stock valued at $290,424. 33.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. American International Group Inc. raised its stake in TESARO by 138.8% in the first quarter. American International Group Inc. now owns 2,099 shares of the biopharmaceutical company’s stock valued at $120,000 after buying an additional 1,220 shares in the last quarter. KBC Group NV raised its stake in TESARO by 20.0% in the second quarter. KBC Group NV now owns 10,533 shares of the biopharmaceutical company’s stock valued at $468,000 after buying an additional 1,752 shares in the last quarter. Rhumbline Advisers raised its stake in TESARO by 5.0% in the second quarter. Rhumbline Advisers now owns 39,787 shares of the biopharmaceutical company’s stock valued at $1,769,000 after buying an additional 1,885 shares in the last quarter. SG Americas Securities LLC acquired a new stake in TESARO in the first quarter valued at $110,000. Finally, Ostrum Asset Management acquired a new stake in TESARO in the first quarter valued at $111,000.

TESARO Company Profile

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.

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Analyst Recommendations for TESARO (NASDAQ:TSRO)

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