TESARO Inc (NASDAQ:TSRO) – SunTrust Banks reduced their FY2021 earnings estimates for TESARO in a research note issued on Tuesday. SunTrust Banks analyst P. Lawson now expects that the biopharmaceutical company will earn $3.28 per share for the year, down from their previous forecast of $3.29.
TSRO has been the topic of a number of other reports. Morgan Stanley lowered their target price on shares of TESARO from $165.00 to $156.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 16th. BidaskClub upgraded shares of TESARO from a “strong sell” rating to a “sell” rating in a research note on Tuesday, March 6th. Credit Suisse Group reiterated an “outperform” rating and issued a $150.00 target price (down from $190.00) on shares of TESARO in a research note on Thursday, January 18th. Citigroup reiterated a “buy” rating and issued a $135.00 target price (down from $216.00) on shares of TESARO in a research note on Wednesday, December 20th. Finally, HC Wainwright reiterated a “buy” rating and issued a $158.00 target price on shares of TESARO in a research note on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $133.39.
TESARO (NASDAQ:TSRO) last posted its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($3.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.96). TESARO had a negative net margin of 222.15% and a negative return on equity of 126.44%. The firm had revenue of $48.02 million during the quarter, compared to analyst estimates of $51.78 million.
Several large investors have recently added to or reduced their stakes in TSRO. Nationwide Fund Advisors lifted its holdings in shares of TESARO by 63.1% during the 3rd quarter. Nationwide Fund Advisors now owns 61,500 shares of the biopharmaceutical company’s stock worth $7,940,000 after acquiring an additional 23,800 shares during the period. Crossmark Global Holdings Inc. bought a new position in shares of TESARO during the 3rd quarter worth about $230,000. Gabelli Funds LLC bought a new position in shares of TESARO during the 3rd quarter worth about $426,000. American Century Companies Inc. lifted its holdings in shares of TESARO by 50.9% during the 3rd quarter. American Century Companies Inc. now owns 5,826 shares of the biopharmaceutical company’s stock worth $752,000 after acquiring an additional 1,965 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in shares of TESARO by 2,290.4% during the 3rd quarter. Prudential Financial Inc. now owns 39,680 shares of the biopharmaceutical company’s stock worth $5,123,000 after acquiring an additional 38,020 shares during the period.
In other news, VP Grant C. Bogle sold 1,809 shares of the firm’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $54.85, for a total transaction of $99,223.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy R. Pearson sold 2,575 shares of the firm’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $54.86, for a total transaction of $141,264.50. Following the transaction, the chief financial officer now directly owns 7,303 shares of the company’s stock, valued at $400,642.58. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 334,913 shares of company stock worth $19,083,294 and sold 13,042 shares worth $760,526. Company insiders own 40.50% of the company’s stock.
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TESARO Company Profile
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.
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