TESARO’s (TSRO) “Buy” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reissued their buy rating on shares of TESARO (NASDAQ:TSRO) in a report issued on Friday. They currently have a $68.00 price objective on the biopharmaceutical company’s stock.

“. We reiterate our Overweight rating and 12-month price target of $68. This morning, TSRO presented an updated GARNET study (anti- PD1 TSR-042) results in 2nd line NSCLC patients and also initial safety results from the anti-LAG-3 agent TSR-033 in poster presentations at the ongoing SITC annual meeting. Overall, the GARNET data reported improved response rates in a larger cohort size of 2nd line NSCLC patients and TSR-042 activity profile in this setting looks compelling so far. The anti-LAG-3 initial safety data were largely in- line with the published abstract.”,” the firm’s analyst wrote.

Other analysts have also recently issued research reports about the stock. Argus cut shares of TESARO from a buy rating to a hold rating in a report on Wednesday, August 15th. Citigroup dropped their target price on shares of TESARO from $100.00 to $85.00 and set a buy rating on the stock in a report on Wednesday, August 29th. Bank of America boosted their target price on shares of TESARO from $35.00 to $38.00 and gave the company a neutral rating in a report on Tuesday, September 11th. Cowen restated a hold rating and set a $38.00 target price on shares of TESARO in a report on Monday, October 22nd. Finally, Royal Bank of Canada dropped their target price on shares of TESARO to $38.00 and set a sector perform rating on the stock in a report on Friday, August 3rd. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. TESARO currently has a consensus rating of Buy and a consensus price target of $78.00.

NASDAQ:TSRO traded down $5.81 during trading hours on Friday, hitting $25.10. The company had a trading volume of 3,864,261 shares, compared to its average volume of 1,985,593. TESARO has a 52 week low of $23.41 and a 52 week high of $92.71. The company has a current ratio of 3.40, a quick ratio of 3.64 and a debt-to-equity ratio of 3.74.

TESARO (NASDAQ:TSRO) last announced its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($2.49) EPS for the quarter, beating the Zacks’ consensus estimate of ($2.62) by $0.13. TESARO had a negative net margin of 295.67% and a negative return on equity of 1,209.72%. The firm had revenue of $64.40 million for the quarter, compared to analysts’ expectations of $71.84 million. During the same quarter in the previous year, the business posted ($0.47) EPS. The company’s quarterly revenue was down 54.9% on a year-over-year basis. On average, analysts expect that TESARO will post -10.97 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of TSRO. Russell Investments Group Ltd. raised its position in shares of TESARO by 54.1% in the 1st quarter. Russell Investments Group Ltd. now owns 8,498 shares of the biopharmaceutical company’s stock worth $485,000 after purchasing an additional 2,985 shares during the last quarter. Legal & General Group Plc raised its position in shares of TESARO by 17.5% in the 1st quarter. Legal & General Group Plc now owns 43,656 shares of the biopharmaceutical company’s stock worth $2,495,000 after purchasing an additional 6,517 shares during the last quarter. Xact Kapitalforvaltning AB raised its position in shares of TESARO by 86.8% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 6,700 shares of the biopharmaceutical company’s stock worth $298,000 after purchasing an additional 3,113 shares during the last quarter. Essex Investment Management Co. LLC purchased a new position in shares of TESARO in the 2nd quarter worth about $733,000. Finally, Fred Alger Management Inc. raised its position in shares of TESARO by 66.6% in the 2nd quarter. Fred Alger Management Inc. now owns 77,870 shares of the biopharmaceutical company’s stock worth $3,463,000 after purchasing an additional 31,122 shares during 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.

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Analyst Recommendations for TESARO (NASDAQ:TSRO)

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