Tesaro Inc. (NASDAQ:TSRO) had its price objective boosted by stock analysts at Wedbush from $107.00 to $139.00 in a report issued on Monday. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Wedbush’s price target suggests a potential upside of 20.52% from the company’s current price.
The analysts wrote, “sees the clinical benefit of niraparib in HRD-negative patients as likely leading to approval in the entire platinum-sensitive ovarian market.”Waltham, Massachusetts-based TESARO, has an approved product in Varubi (rolapitant) for the prevention of delayed nausea and vomiting associated with emetogenic chemotherapy. The company is also developing its Phase 3 asset, niraparib, a PARP inhibitor in ovarian and breast cancer indications.TESARO said it would file NDA and MAA for all patients with recurrent, platinum-sensitive ovarian cancer in the fourth quarter 2016.”[W]e see the lack of requirement for a companion diagnostic for niraparib in these patients as a potential advantage over competing PARP inhibitors,” analyst David Nierengarten wrote in a note.Related Link: 16 Stocks Moving In Monday’s Pre-Market SessionNierengarten, who expects niraparib to be launched in the United States in mid-2017, now assumes 50 percent peak penetration into the platinum-sensitive market (up from 20 percent) and cuts peak penetration into the platinum-resistant market to 15 percent from a previous 25 percent.”These changes raise our 2021 niraparib sales estimate to $2.2 billion (from $1.6 billion), which also includes revenues from metastatic breast cancer gBRCAmut patients,” Nierengarten highlighted.The analyst says 50 percent peak market share is achievable given the favorable comparison of niraparib with data from olaparib-treated patients and olaparib being limited to gBRCA patients only. Nierengarten also noted niraparib has first-mover advantage in this treatment setting versus rucaparib.”Underwhelming data from rucaparib in the third line setting presented at ESMO gives us greater confidence that niraparib will be the market leader in the earlier line of therapy, especially if a companion diagnostic is required,”
A number of other research analysts also recently issued reports on TSRO. FBR & Co restated a “buy” rating on shares of Tesaro in a research report on Thursday, June 30th. Zacks Investment Research upgraded shares of Tesaro from a “sell” rating to a “hold” rating in a research report on Tuesday, July 5th. SunTrust Banks Inc. restated a “buy” rating and issued a $91.60 price target on shares of Tesaro in a research report on Wednesday, September 14th. Credit Suisse Group AG restated a “buy” rating on shares of Tesaro in a research report on Friday, August 5th. Finally, Wells Fargo & Co. restated an “outperform” rating on shares of Tesaro in a research report on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $109.76.
Tesaro (NASDAQ:TSRO) opened at 115.33 on Monday. The firm’s market cap is $5.92 billion. The company’s 50-day moving average is $97.53 and its 200 day moving average is $70.11. Tesaro has a one year low of $29.51 and a one year high of $122.89.
Tesaro (NASDAQ:TSRO) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) EPS for the quarter, topping the consensus estimate of ($1.71) by $0.43. Tesaro had a negative net margin of 783.97% and a negative return on equity of 205.63%. The business had revenue of $36.60 million for the quarter, compared to the consensus estimate of $4.98 million. During the same period last year, the company earned ($1.51) EPS. Equities analysts anticipate that Tesaro will post ($7.36) earnings per share for the current year.
In other news, SVP Martin H. Jr. Huber sold 408 shares of the company’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $108.12, for a total value of $44,112.96. Following the completion of the sale, the senior vice president now owns 1,250 shares in the company, valued at approximately $135,150. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Edward C. English sold 7,000 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $88.54, for a total transaction of $619,780.00. Following the completion of the sale, the vice president now owns 3,500 shares of the company’s stock, valued at approximately $309,890. The disclosure for this sale can be found here. Company insiders own 40.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. KCG Holdings Inc. purchased a new stake in Tesaro during the second quarter valued at about $228,000. Quantitative Systematic Strategies LLC purchased a new stake in Tesaro during the second quarter valued at about $240,000. Bluestein R H & Co. purchased a new stake in Tesaro during the second quarter valued at about $252,000. Neuberger Berman Group LLC purchased a new stake in Tesaro during the second quarter valued at about $256,000. Finally, Amalgamated Bank purchased a new stake in Tesaro during the second quarter valued at about $260,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.
Tesaro Company Profile