The Tesaro Inc. (TSRO) Price Target Raised to $128.00 at RBC Capital Markets

The Tesaro Inc. (TSRO) Price Target Raised to $128.00 at RBC Capital Markets

Tesaro Inc. (NASDAQ:TSRO) had its price target increased by RBC Capital Markets from $122.00 to $128.00 in a research note published on Monday morning. The firm currently has an outperform rating on the biopharmaceutical company’s stock.

Several other equities analysts have also recently weighed in on the stock. Bank of America Corp. initiated coverage on shares of Tesaro in a research note on Tuesday, August 30th. They issued a neutral rating and a $97.00 target price for the company. FBR & Co raised their target price on shares of Tesaro from $102.00 to $115.00 and gave the company an outperform rating in a research note on Monday. Citigroup Inc. raised their target price on shares of Tesaro from $90.00 to $120.00 and gave the company a buy rating in a research note on Monday, August 8th. Mizuho raised their target price on shares of Tesaro from $67.00 to $94.00 and gave the company a buy rating in a research note on Tuesday, July 5th. Finally, Robert W. Baird initiated coverage on shares of Tesaro in a research note on Monday, July 18th. They issued an outperform rating and a $105.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the stock. Tesaro presently has an average rating of Buy and an average price target of $110.11.

Tesaro (NASDAQ:TSRO) opened at 116.15 on Monday. The stock has a 50 day moving average of $98.99 and a 200-day moving average of $70.75. Tesaro has a 52 week low of $29.51 and a 52 week high of $122.89. The firm’s market cap is $5.97 billion.

Tesaro (NASDAQ:TSRO) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, beating the Zacks’ 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 company 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) earnings per share. Analysts expect that Tesaro will post ($7.36) earnings per share for the current year.

In related news, SVP Martin H. Jr. Huber sold 408 shares of the stock in a transaction on Thursday, September 22nd. The stock was 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 directly owns 1,250 shares of the company’s stock, valued at approximately $135,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Edward C. English sold 7,000 shares of the stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $88.54, for a total value of $619,780.00. Following the completion of the sale, the vice president now directly owns 3,500 shares of the company’s stock, valued at $309,890. The disclosure for this sale can be found here. 40.50% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Passport Capital LLC bought a new stake in Tesaro during the second quarter worth approximately $61,720,000. FMR LLC raised its stake in shares of Tesaro by 9.6% in the second quarter. FMR LLC now owns 6,097,449 shares of the biopharmaceutical company’s stock valued at $512,490,000 after buying an additional 531,892 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in shares of Tesaro by 661.3% in the second quarter. Pictet Asset Management Ltd. now owns 418,730 shares of the biopharmaceutical company’s stock valued at $19,387,000 after buying an additional 363,730 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of Tesaro during the second quarter valued at about $23,685,000. Finally, Vanguard Group Inc. raised its stake in shares of Tesaro by 11.0% in the second quarter. Vanguard Group Inc. now owns 2,216,739 shares of the biopharmaceutical company’s stock valued at $186,317,000 after buying an additional 219,902 shares in the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

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