TESARO (TSRO) Rating Lowered to Market Perform at Leerink Swann

Leerink Swann lowered shares of TESARO (NASDAQ:TSRO) from an outperform rating to a market perform rating in a research note published on Monday, The Fly reports.

A number of other analysts have also issued reports on the company. Gabelli lowered TESARO from a buy rating to a hold rating in a research note on Monday. Guggenheim lowered TESARO from a buy rating to a neutral rating in a research note on Monday. SunTrust Banks lowered TESARO from a buy rating to a hold rating in a research note on Monday. Robert W. Baird set a $75.00 price objective on TESARO and gave the company a hold rating in a research note on Monday. Finally, HC Wainwright reiterated a buy rating and set a $69.00 price objective on shares of TESARO in a research note on Monday. Thirteen research analysts have rated the stock with 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 $74.90.

NASDAQ:TSRO opened at $73.50 on Monday. The company has a debt-to-equity ratio of 3.74, a quick ratio of 2.83 and a current ratio of 3.40. TESARO has a 52-week low of $23.41 and a 52-week high of $87.93. The firm has a market cap of $2.55 billion, a P/E ratio of -8.02 and a beta of 1.46.

TESARO (NASDAQ:TSRO) last released its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($2.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.62) by $0.13. TESARO had a negative return on equity of 1,209.72% and a negative net margin of 295.67%. The company had revenue of $64.40 million for the quarter, compared to analyst estimates of $71.84 million. During the same period in the previous year, the company posted ($0.47) EPS. The firm’s revenue for the quarter was down 54.9% compared to the same quarter last year. Research analysts forecast that TESARO will post -10.93 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the stock. ING Groep NV purchased a new position in TESARO during the second quarter worth about $667,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of TESARO in the 3rd quarter worth about $602,000. First Mercantile Trust Co. boosted its holdings in shares of TESARO by 58.3% in the 3rd quarter. First Mercantile Trust Co. now owns 12,835 shares of the biopharmaceutical company’s stock worth $501,000 after purchasing an additional 4,727 shares in the last quarter. KBC Group NV boosted its holdings in shares of TESARO by 20.0% in the 2nd quarter. KBC Group NV now owns 10,533 shares of the biopharmaceutical company’s stock worth $468,000 after purchasing an additional 1,752 shares in the last quarter. Finally, Frontier Capital Management Co. LLC boosted its holdings in shares of TESARO by 77.9% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 3,139,778 shares of the biopharmaceutical company’s stock worth $122,483,000 after purchasing an additional 1,375,361 shares in the last quarter.

About TESARO

Tesaro, Inc, an oncology-focused biopharmaceutical company, identifies, acquires, develops, and commercializes cancer therapeutics and oncology supportive care products in the United States. It offers ZEJULA (niraparib), an orally active and potent poly polymerase inhibitor for the maintenance treatment of women with recurrent epithelial ovarian, fallopian tube, or primary peritoneal cancer; and VARUBI (rolapitant), a neurokinin-1, or NK-1, receptor antagonist for the prevention of chemotherapy induced nausea and vomiting.

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Analyst Recommendations for TESARO (NASDAQ:TSRO)

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