Wedbush downgraded shares of TESARO (NASDAQ:TSRO) from an outperform rating to a neutral rating in a report published on Tuesday morning, MarketBeat Ratings reports. Wedbush currently has $75.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $60.00.
A number of other analysts also recently weighed in on TSRO. Bank of America downgraded TESARO from a buy rating to a neutral rating in a report on Monday, August 6th. Barclays decreased their price target on TESARO from $60.00 to $56.00 and set an overweight rating for the company in a report on Monday, August 6th. Zacks Investment Research downgraded TESARO from a hold rating to a sell rating in a report on Wednesday, August 8th. Argus downgraded TESARO from a buy rating to a hold rating in a report on Wednesday, August 15th. Finally, Citigroup decreased their price target on TESARO from $100.00 to $85.00 and set a buy rating for the company in a report on Wednesday, August 29th. Fifteen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. TESARO currently has an average rating of Hold and a consensus price target of $78.18.
Shares of TESARO stock opened at $73.95 on Tuesday. The company has a quick ratio of 2.83, a current ratio of 3.40 and a debt-to-equity ratio of 3.74. TESARO has a 1-year low of $23.41 and a 1-year high of $85.48.
TESARO (NASDAQ:TSRO) last issued its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($2.49) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.62) by $0.13. TESARO had a negative return on equity of 1,209.72% and a negative net margin of 295.67%. The firm had revenue of $64.40 million during the quarter, compared to the consensus estimate of $71.84 million. During the same period last year, the business posted ($0.47) EPS. The business’s revenue was down 54.9% compared to the same quarter last year. Research analysts expect that TESARO will post -10.94 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of TSRO. US Bancorp DE grew its stake in shares of TESARO by 163.5% in the 3rd quarter. US Bancorp DE now owns 3,940 shares of the biopharmaceutical company’s stock valued at $153,000 after buying an additional 2,445 shares during the period. New Jersey Better Educational Savings Trust acquired a new stake in shares of TESARO in the 3rd quarter valued at about $234,000. Janney Montgomery Scott LLC acquired a new stake in shares of TESARO in the 2nd quarter valued at about $257,000. Pacer Advisors Inc. acquired a new stake in shares of TESARO in the 3rd quarter valued at about $273,000. Finally, BTG Pactual Global Asset Management Ltd acquired a new stake in shares of TESARO in the 2nd quarter valued at about $277,000.
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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