SunTrust Banks, Inc. Reaffirms Buy Rating for TESARO, Inc. (TSRO)

SunTrust Banks, Inc. reaffirmed their buy rating on shares of TESARO, Inc. (NASDAQ:TSRO) in a report issued on Friday morning. They currently have a $160.00 price objective on the biopharmaceutical company’s stock. SunTrust Banks also issued estimates for TESARO’s Q4 2017 earnings at ($2.41) EPS, FY2017 earnings at ($8.23) EPS, Q1 2018 earnings at ($2.11) EPS, Q2 2018 earnings at ($1.84) EPS, Q3 2018 earnings at ($1.94) EPS, Q4 2018 earnings at ($1.64) EPS, FY2018 earnings at ($7.52) EPS, FY2019 earnings at ($4.56) EPS, FY2020 earnings at $1.69 EPS and FY2021 earnings at $7.48 EPS.

Several other research analysts also recently issued reports on TSRO. Robert W. Baird reaffirmed a neutral rating and set a $140.00 price target (down previously from $155.00) on shares of TESARO in a research note on Thursday, August 10th. Lake Street Capital reissued a buy rating and issued a $143.00 target price on shares of TESARO in a research note on Thursday. Zacks Investment Research raised shares of TESARO from a sell rating to a hold rating in a research note on Wednesday, November 8th. HC Wainwright reissued a buy rating on shares of TESARO in a research note on Wednesday, November 8th. Finally, Jefferies Group LLC set a $124.00 target price on shares of TESARO and gave the company a hold rating in a research note on Thursday, August 17th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $161.72.

TESARO (NASDAQ TSRO) opened at $91.09 on Friday. The company has a current ratio of 4.73, a quick ratio of 5.41 and a debt-to-equity ratio of 0.34. TESARO has a one year low of $89.00 and a one year high of $192.94.

TESARO (NASDAQ:TSRO) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.16) by $0.69. The business had revenue of $142.77 million during the quarter, compared to the consensus estimate of $130.57 million. TESARO had a negative return on equity of 93.39% and a negative net margin of 251.22%. The business’s revenue was up 740.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.72) EPS. equities research analysts predict that TESARO will post -8.18 earnings per share for the current fiscal year.

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In related news, SVP Martin H. Jr. Huber sold 592 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $118.60, for a total transaction of $70,211.20. Following the transaction, the senior vice president now directly owns 6,943 shares of the company’s stock, valued at approximately $823,439.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James O. Armitage sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $117.13, for a total value of $1,171,300.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $1,171,300. The disclosure for this sale can be found here. Insiders have sold a total of 35,692 shares of company stock worth $4,628,976 over the last three months. 40.50% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in TSRO. Exane Derivatives acquired a new position in TESARO during the 3rd quarter worth approximately $106,000. Botty Investors LLC acquired a new position in shares of TESARO in the 2nd quarter valued at approximately $140,000. Nordea Investment Management AB acquired a new position in shares of TESARO in the 2nd quarter valued at approximately $167,000. Oppenheimer Asset Management Inc. raised its position in shares of TESARO by 3,042.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,477 shares of the biopharmaceutical company’s stock valued at $206,000 after purchasing an additional 1,430 shares in the last quarter. Finally, Toronto Dominion Bank raised its position in shares of TESARO by 244.6% in the 3rd quarter. Toronto Dominion Bank now owns 1,592 shares of the biopharmaceutical company’s stock valued at $206,000 after purchasing an additional 1,130 shares in the last quarter.

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.

Analyst Recommendations for TESARO (NASDAQ:TSRO)

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