The Cann Reiterates Buy Rating for TESARO Inc (TSRO)

The Cann Reiterates Buy Rating for TESARO Inc (TSRO)

The analysts wrote, “On Saturday, June 3, 2017, Tesaro provided a corporate update that described initial data from the TOPACIO trial of niraparib (Zejula) plus Keytruda (pembrolizumab) and results of a phase I trial of TSR-042, and provided an update on the commercial launch of Zejula and its commercial businesses in the US and Europe. The launch is exceeding our expectations, and management reiterated plans to advance Zejula into the front-line ovarian cancer setting and to expand into other tumor types, including non-small cell lung cancer. We are adjusting our Zejula outlook based on the current status of the launch.””

TESARO Inc (NASDAQ:TSRO)‘s stock had its “buy” rating reissued by research analysts at Cann in a research report issued to clients and investors on Monday. They currently have a $199.00 price objective on the biopharmaceutical company’s stock. Cann’s price target would suggest a potential upside of 31.69% from the company’s previous close.

A number of other research analysts have also recently commented on TSRO. Oppenheimer Holdings Inc. set a $199.00 target price on shares of TESARO and gave the company a “buy” rating in a research report on Sunday. ValuEngine raised shares of TESARO from a “sell” rating to a “hold” rating in a research report on Friday. Zacks Investment Research raised shares of TESARO from a “sell” rating to a “hold” rating in a research report on Friday, March 31st. Royal Bank of Canada upped their target price on shares of TESARO from $142.00 to $202.00 and gave the company an “outperform” rating in a research report on Friday, February 17th. Finally, Cowen and Company set a $155.00 price target on shares of TESARO and gave the stock a “hold” rating in a research note on Saturday, February 25th. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. TESARO presently has an average rating of “Buy” and an average price target of $174.97.

TESARO (TSRO) opened at 151.11 on Monday. TESARO has a 1-year low of $36.71 and a 1-year high of $192.94. The stock’s market cap is $8.14 billion. The company has a 50-day moving average of $145.83 and a 200 day moving average of $150.64. TESARO (NASDAQ:TSRO) last posted its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($2.55) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.26) by $0.29. TESARO had a negative net margin of 4,449.23% and a negative return on equity of 96.10%. The company had revenue of $3.10 million during the quarter, compared to analyst estimates of $3.84 million. During the same period in the previous year, the company earned ($2.22) EPS. The company’s quarterly revenue was up 909.8% compared to the same quarter last year. Analysts predict that TESARO will post ($8.76) EPS for the current year.

TESARO (TSRO) opened at 151.11 on Monday. TESARO has a 1-year low of $36.71 and a 1-year high of $192.94. The stock’s market cap is $8.14 billion. The company has a 50-day moving average of $145.83 and a 200 day moving average of $150.64. In related news, SVP Martin H. Jr. Huber sold 829 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $153.02, for a total transaction of $126,853.58. Following the sale, the senior vice president now directly owns 6,522 shares in the company, valued at $997,996.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 40.50% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its stake in TESARO by 0.4% in the first quarter. FMR LLC now owns 8,043,921 shares of the biopharmaceutical company’s stock worth $1,237,718,000 after buying an additional 32,918 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in TESARO by 16.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 5,584,279 shares of the biopharmaceutical company’s stock worth $559,768,000 after buying an additional 776,709 shares during the last quarter. BlackRock Inc. raised its stake in TESARO by 4,504.8% in the first quarter. BlackRock Inc. now owns 3,409,657 shares of the biopharmaceutical company’s stock worth $524,643,000 after buying an additional 3,335,611 shares during the last quarter. Franklin Resources Inc. raised its stake in TESARO by 21.3% in the fourth quarter. Franklin Resources Inc. now owns 3,042,844 shares of the biopharmaceutical company’s stock worth $409,207,000 after buying an additional 534,851 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in TESARO by 3.7% in the first quarter. Vanguard Group Inc. now owns 2,916,132 shares of the biopharmaceutical company’s stock worth $448,705,000 after buying an additional 103,759 shares during the last quarter. Hedge funds and other institutional investors own 98.48% of the company’s stock. About TESARO

TESARO, Inc is an oncology-focused biopharmaceutical company. The Company operates through the business of developing and commercializing of oncology-focused therapeutics segment. It is developing oncology-related product candidates, including rolapitant, niraparib and the product candidates under its immuno-oncology platform.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:TSRO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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