The Tesaro Inc. (TSRO) Rating Increased to Buy at Bank of America Corp.

The Tesaro Inc. (TSRO) Rating Increased to Buy at Bank of America Corp.

Tesaro Inc. (NASDAQ:TSRO) was upgraded by research analysts at Bank of America Corp. from a “neutral” rating to a “buy” rating in a research note issued on Monday. The firm presently has a $123.00 target price on the biopharmaceutical company’s stock. Bank of America Corp.’s target price suggests a potential upside of 6.65% from the company’s current price.

Other equities analysts have also issued reports about the stock. Mizuho raised their price objective on shares of Tesaro from $67.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, July 5th. Citigroup Inc. raised their price objective on shares of Tesaro from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, July 1st. Wedbush restated a “buy” rating on shares of Tesaro in a research report on Thursday, June 30th. FBR & Co restated a “buy” rating on shares of Tesaro in a research report on Thursday, June 30th. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Tesaro in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $109.76.

Shares of Tesaro (NASDAQ:TSRO) opened at 115.33 on Monday. The firm’s market capitalization is $5.92 billion. The firm has a 50-day moving average of $97.53 and a 200 day moving average of $70.11. Tesaro has a 52 week low of $29.51 and a 52 week high of $122.89.

Tesaro (NASDAQ:TSRO) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.28) EPS for the quarter, beating analysts’ consensus estimates 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 company earned $36.60 million during the quarter, compared to analyst estimates of $4.98 million. During the same period last year, the business earned ($1.51) earnings per share. On average, equities analysts predict that Tesaro will post ($7.36) earnings per share for the current fiscal year.

In related news, VP Jeffrey H. Hanke sold 29,166 shares of Tesaro stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $86.04, for a total value of $2,509,442.64. Following the transaction, the vice president now directly owns 29,166 shares of the company’s stock, valued at $2,509,442.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Edward C. English sold 7,000 shares of Tesaro 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 transaction, the vice president now directly owns 3,500 shares in the company, valued at $309,890. The disclosure for this sale can be found here. 40.50% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of TSRO. KCG Holdings Inc. purchased a new position in shares of Tesaro during the second quarter valued at approximately $228,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Tesaro during the second quarter valued at approximately $240,000. Bluestein R H & Co. purchased a new position in shares of Tesaro during the second quarter valued at approximately $252,000. Neuberger Berman Group LLC purchased a new position in shares of Tesaro during the second quarter valued at approximately $256,000. Finally, Amalgamated Bank purchased a new position in shares of Tesaro during the second quarter valued at approximately $260,000. 88.81% of the stock is currently owned by institutional investors.

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