Tesaro (NASDAQ:TSRO) Price Target Cut to $110.00 by Analysts at Argus

Tesaro (NASDAQ:TSRO) had its price target dropped by research analysts at Argus from $154.00 to $110.00 in a research note issued on Wednesday, May 2nd. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Argus’ target price points to a potential upside of 117.48% from the company’s previous close.

Several other analysts have also commented on TSRO. Piper Jaffray reaffirmed a “hold” rating and issued a $80.00 price target on shares of Tesaro in a research note on Tuesday, January 2nd. Cowen cut their price objective on Tesaro from $125.00 to $80.00 and set a “market perform” rating for the company in a research report on Tuesday, January 2nd. Zacks Investment Research downgraded Tesaro from a “hold” rating to a “sell” rating in a research report on Thursday, January 11th. HC Wainwright reiterated a “buy” rating and issued a $158.00 price objective on shares of Tesaro in a research report on Friday, January 12th. Finally, Morgan Stanley dropped their target price on Tesaro from $165.00 to $156.00 and set an “overweight” rating for the company in a research report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the stock. Tesaro has a consensus rating of “Buy” and an average price target of $119.00.

Shares of NASDAQ:TSRO opened at $50.58 on Wednesday. Tesaro has a 1-year low of $47.06 and a 1-year high of $47.91. The company has a market cap of $2.61 billion, a PE ratio of -5.52 and a beta of 1.32. The company has a current ratio of 4.02, a quick ratio of 3.56 and a debt-to-equity ratio of 3.74.

Tesaro (NASDAQ:TSRO) last announced its quarterly earnings data on Thursday, May 3rd. The biopharmaceutical company reported ($2.98) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.56) by ($0.42). The firm had revenue of $49.74 million for the quarter, compared to analyst estimates of $56.34 million. Tesaro had a negative return on equity of 177.92% and a negative net margin of 193.42%. Tesaro’s revenue for the quarter was up 1520.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.55) EPS. research analysts expect that Tesaro will post -9.96 EPS for the current year.

In other Tesaro news, VP Grant C. Bogle sold 1,809 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $54.85, for a total value of $99,223.65. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Orlando Oliveira sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $69.88, for a total value of $209,640.00. Following the transaction, the senior vice president now owns 9,076 shares in the company, valued at approximately $634,230.88. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 334,913 shares of company stock worth $19,083,294 and have sold 13,042 shares worth $760,526. Corporate insiders own 33.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in TSRO. Bank of Montreal Can increased its stake in shares of Tesaro by 27.2% during the fourth quarter. Bank of Montreal Can now owns 9,103 shares of the biopharmaceutical company’s stock worth $754,000 after purchasing an additional 1,948 shares during the period. Gateway Investment Advisers LLC increased its stake in shares of Tesaro by 30.2% during the fourth quarter. Gateway Investment Advisers LLC now owns 25,937 shares of the biopharmaceutical company’s stock worth $2,149,000 after purchasing an additional 6,016 shares during the period. Creative Planning increased its stake in shares of Tesaro by 23.1% during the fourth quarter. Creative Planning now owns 50,209 shares of the biopharmaceutical company’s stock worth $4,161,000 after purchasing an additional 9,432 shares during the period. Fox Run Management L.L.C. acquired a new stake in Tesaro during the fourth quarter worth approximately $218,000. Finally, State of Alaska Department of Revenue acquired a new stake in Tesaro during the fourth quarter worth approximately $223,000.

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.

Analyst Recommendations for Tesaro (NASDAQ:TSRO)

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