Tesaro Receives a Buy from FBR Capital

By Ryan Adsit

FBR Capital analyst Edward White reiterated a Buy rating on Tesaro (NASDAQ: TSRO) today and set a price target of $133. The company’s shares closed yesterday at $120.28, close to its 52-week high of $124.32.

According to TipRanks.com, White is ranked 0 out of 5 stars with an average return of -18.1% and a 14.8% success rate. White covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, RXi Pharmaceuticals Corp, and Synthetic Biologics Inc.

Currently, the analyst consensus on Tesaro is Strong Buy and the average price target is $131.75, representing a 9.5% upside.

In a report released today, Citigroup also maintained a Buy rating on the stock with a $151 price target.

Based on Tesaro’s latest earnings report from June 30, the company posted quarterly revenue of $36.56M and quarterly net profit of -$58.41M. In comparison, last year the company earned revenue of $87K and had a net profit of -$66.59M.

Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TSRO in relation to earlier this year. Most recently, in September 2015, James Armitage, a Director at TSRO bought 500 shares for a total of $27,315.

TESARO, Inc. engages in the research and development of biopharmaceutical products. It focuses on oncology-based therapeutics and consists of the following portfolio: Rolapitant IV and Niraparib. The company was founded by Leon Moulder, Jr., Mary Lynne Hedley, and Richard J. Rodgers on March 26, 2010 and is headquartered in Waltham, MA.