Oppenheimer Releases a Buy Rating on Tesaro

By Jason Carr

Oppenheimer analyst Leah R. Cann assigned a Buy rating to Tesaro (NASDAQ: TSRO) today and set a price target of $199. The company’s shares closed yesterday at $115.24.

R. Cann commented:

“Tesaro announced today that the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) has issued a positive opinion for the company’s marketing authorization application (MAA) for Zejula (niraparib) as a monotherapy for the maintenance treatment of adult patients with platinum-sensitive, relapsed, high-grade serous epithelial ovarian, fallopian tube, or primary peritoneal cancer who are in a complete response (CR) or partial response (PR) to platinum- based chemotherapy. This opinion will now be referred to the European Commission (EC), which grants marketing authorization for medicines in the European Union.”

According to TipRanks.com, Cann is a 5-star analyst with an average return of 25.6% and a 82.4% success rate. Cann covers the Healthcare sector, focusing on stocks such as CytomX Therapeutics Inc, Crispr Therapeutics AG, and Intellia Therapeutics.

Currently, the analyst consensus on Tesaro is Moderate Buy and the average price target is $164.22, representing a 42.5% upside.

In a report issued on September 11, Citigroup also maintained a Buy rating on the stock with a $216 price target.

The company has a one year high of $192.94 and a one year low of $96.52. Currently, Tesaro has an average volume of 1.16M.

Based on the recent corporate insider activity of 32 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

TESARO, Inc. is an oncology-focused biopharmaceutical company, which engages in the research and development of biopharmaceutical products. It focuses on oncology-based therapeutics and its products include: Rolapitant and Niraparib. The company was founded by Leon Moulder, Jr., Mary Lynne Hedley, and Richard J.