Leerink Swann Research Analysts Reduce Earnings Estimates for TESARO, Inc. (TSRO)

TESARO, Inc. (NASDAQ:TSRO) – Investment analysts at Leerink Swann reduced their FY2018 EPS estimates for TESARO in a research report issued to clients and investors on Monday. Leerink Swann analyst S. Fernandez now anticipates that the biopharmaceutical company will post earnings per share of ($3.10) for the year, down from their prior forecast of ($2.84). Leerink Swann has a “Market Perform” rating and a $143.00 price target on the stock. Leerink Swann also issued estimates for TESARO’s FY2019 earnings at $0.88 EPS, FY2020 earnings at $4.74 EPS and FY2021 earnings at $6.52 EPS.

TSRO has been the subject of several other research reports. Robert W. Baird reissued a “neutral” rating on shares of TESARO in a research report on Tuesday, June 6th. Bank of America Corporation reissued a “buy” rating and set a $154.00 price objective on shares of TESARO in a research report on Tuesday. Wedbush raised their price objective on TESARO from $164.00 to $174.00 and gave the company an “outperform” rating in a research report on Tuesday, March 28th. Vetr raised TESARO from a “buy” rating to a “strong-buy” rating and set a $178.33 price objective for the company in a research report on Monday, March 27th. Finally, Zacks Investment Research raised TESARO from a “sell” rating to a “hold” rating in a research report on Friday, March 31st. Nine analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $173.68.

Earnings History and Estimates for TESARO (NASDAQ:TSRO)

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TESARO (NASDAQ TSRO) opened at 146.72 on Thursday. The firm’s market cap is $7.90 billion. The company’s 50 day moving average is $145.51 and its 200-day moving average is $151.49. TESARO has a 52-week low of $36.71 and a 52-week high of $192.94.

TESARO (NASDAQ:TSRO) last released its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($2.55) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($2.26) by $0.29. TESARO had a negative net margin of 910.35% and a negative return on equity of 96.49%. The company had revenue of $3.10 million for the quarter, compared to analyst estimates of $3.84 million. During the same quarter in the previous year, the firm earned ($2.22) EPS. The firm’s revenue was up 909.8% on a year-over-year basis.

In other TESARO news, VP Edward C. English sold 8,500 shares of the business’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $138.65, for a total value of $1,178,525.00. Following the completion of the transaction, the vice president now owns 5,396 shares of the company’s stock, valued at approximately $748,155.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Martin H. Jr. Huber sold 829 shares of the business’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $153.02, for a total value of $126,853.58. Following the completion of the transaction, the senior vice president now directly owns 6,522 shares of the company’s stock, valued at approximately $997,996.44. The disclosure for this sale can be found here. 40.50% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of TESARO during the fourth quarter worth $3,292,000. State Board of Administration of Florida Retirement System raised its position in shares of TESARO by 5.1% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 16,590 shares of the biopharmaceutical company’s stock worth $2,231,000 after buying an additional 800 shares during the period. Dimensional Fund Advisors LP raised its position in shares of TESARO by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 90,321 shares of the biopharmaceutical company’s stock worth $12,146,000 after buying an additional 1,748 shares during the period. Allianz Asset Management AG raised its position in shares of TESARO by 44.9% in the fourth quarter. Allianz Asset Management AG now owns 56,200 shares of the biopharmaceutical company’s stock worth $7,557,000 after buying an additional 17,410 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in shares of TESARO during the fourth quarter worth $502,000.

About TESARO

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.

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