TESARO (TSRO) Lowered to Hold at Gabelli

TESARO (NASDAQ:TSRO) was downgraded by research analysts at Gabelli from a “buy” rating to a “hold” rating in a report released on Monday, MarketBeat reports.

Other analysts have also issued research reports about the company. Robert W. Baird set a $75.00 price objective on TESARO and gave the company a “hold” rating in a report on Monday. HC Wainwright restated a “buy” rating and issued a $69.00 price objective on shares of TESARO in a report on Monday. Guggenheim lowered TESARO from a “buy” rating to a “neutral” rating and upped their price objective for the company from $69.00 to $75.00 in a report on Monday. SunTrust Banks lowered TESARO from a “buy” rating to a “hold” rating and upped their price objective for the company from $65.00 to $75.00 in a report on Monday. Finally, Wells Fargo & Co lowered TESARO from an “outperform” rating to a “market perform” rating in a report on Monday. Fourteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $78.18.

Shares of TSRO stock opened at $73.69 on Monday. The company has a quick ratio of 2.83, a current ratio of 3.40 and a debt-to-equity ratio of 3.74. TESARO has a 1 year low of $23.41 and a 1 year high of $87.03. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of -8.04 and a beta of 1.46.

TESARO (NASDAQ:TSRO) last announced its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($2.49) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 during the quarter, compared to analyst estimates of $71.84 million. During the same quarter in the previous year, the firm posted ($0.47) EPS. The firm’s quarterly revenue was down 54.9% on a year-over-year basis. Equities analysts expect that TESARO will post -10.93 EPS for the current year.

Several institutional investors have recently made changes to their positions in TSRO. Frontier Capital Management Co. LLC raised its position in shares of TESARO by 628.3% during the second quarter. Frontier Capital Management Co. LLC now owns 1,764,417 shares of the biopharmaceutical company’s stock worth $78,464,000 after purchasing an additional 1,522,157 shares during the period. BB Biotech AG raised its position in shares of TESARO by 48.9% during the second quarter. BB Biotech AG now owns 2,426,802 shares of the biopharmaceutical company’s stock worth $107,920,000 after purchasing an additional 797,059 shares during the period. Elk Creek Partners LLC raised its position in shares of TESARO by 251.1% during the third quarter. Elk Creek Partners LLC now owns 673,392 shares of the biopharmaceutical company’s stock worth $26,269,000 after purchasing an additional 481,577 shares during the period. Nexthera Capital LP acquired a new stake in shares of TESARO during the second quarter worth $19,278,000. Finally, Candriam Luxembourg S.C.A. raised its position in shares of TESARO by 100.1% during the third quarter. Candriam Luxembourg S.C.A. now owns 763,500 shares of the biopharmaceutical company’s stock worth $29,784,000 after purchasing an additional 382,000 shares during the period.

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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