$69.01 Million in Sales Expected for TESARO Inc (TSRO) This Quarter

Wall Street brokerages expect that TESARO Inc (NASDAQ:TSRO) will post $69.01 million in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for TESARO’s earnings, with the lowest sales estimate coming in at $62.22 million and the highest estimate coming in at $83.43 million. TESARO posted sales of $142.77 million in the same quarter last year, which would indicate a negative year over year growth rate of 51.7%. The business is scheduled to report its next quarterly earnings report on Tuesday, November 6th.

According to Zacks, analysts expect that TESARO will report full year sales of $258.00 million for the current year, with estimates ranging from $249.87 million to $265.50 million. For the next year, analysts expect that the firm will post sales of $390.94 million per share, with estimates ranging from $299.88 million to $570.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for TESARO.

TESARO (NASDAQ:TSRO) last announced its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($3.04) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.66) by ($0.38). TESARO had a negative return on equity of 285.30% and a negative net margin of 180.29%. The company had revenue of $57.21 million during the quarter, compared to analysts’ expectations of $65.50 million. During the same period last year, the firm earned ($2.82) earnings per share. TESARO’s revenue for the quarter was up 94.2% on a year-over-year basis.

Several equities analysts have recently issued reports on TSRO shares. ValuEngine cut TESARO from a “hold” rating to a “sell” rating in a research note on Saturday, July 28th. Credit Suisse Group reduced their target price on TESARO from $141.00 to $128.00 and set an “outperform” rating on the stock in a research note on Friday, May 4th. Bank of America cut TESARO from a “buy” rating to a “neutral” rating in a research note on Monday, August 6th. Lake Street Capital reissued a “buy” rating and set a $80.00 target price (down from $120.00) on shares of TESARO in a research note on Monday, May 7th. Finally, HC Wainwright reduced their target price on TESARO to $71.00 and set a “buy” rating on the stock in a research note on Friday, July 20th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $95.70.

In related news, Director Lawrence M. Alleva sold 7,142 shares of TESARO stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $43.11, for a total transaction of $307,891.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Arnold L. Oronsky sold 10,000 shares of TESARO stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $26.77, for a total value of $267,700.00. Following the sale, the director now owns 12,479 shares in the company, valued at $334,062.83. The disclosure for this sale can be found here. Insiders have sold 17,329 shares of company stock worth $582,019 over the last 90 days. 33.70% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC bought a new stake in TESARO in the second quarter worth $733,000. Neuberger Berman Group LLC boosted its holdings in TESARO by 0.8% in the first quarter. Neuberger Berman Group LLC now owns 149,157 shares of the biopharmaceutical company’s stock worth $8,523,000 after acquiring an additional 1,117 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in TESARO by 49.9% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 136,441 shares of the biopharmaceutical company’s stock worth $6,068,000 after acquiring an additional 45,450 shares in the last quarter. Capital Impact Advisors LLC boosted its holdings in TESARO by 67.3% in the second quarter. Capital Impact Advisors LLC now owns 37,524 shares of the biopharmaceutical company’s stock worth $1,660,000 after acquiring an additional 15,089 shares in the last quarter. Finally, NEA Management Company LLC boosted its holdings in TESARO by 1.4% in the first quarter. NEA Management Company LLC now owns 10,420,555 shares of the biopharmaceutical company’s stock worth $595,431,000 after acquiring an additional 145,442 shares in the last quarter.

Shares of TSRO traded up $1.63 during mid-day trading on Wednesday, hitting $31.73. 90,721 shares of the company’s stock traded hands, compared to its average volume of 2,404,445. The company has a debt-to-equity ratio of -29.71, a quick ratio of 3.64 and a current ratio of 4.11. TESARO has a 1 year low of $25.62 and a 1 year high of $136.45. The stock has a market capitalization of $1.65 billion, a PE ratio of -3.43 and a beta of 1.08.

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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Earnings History and Estimates for TESARO (NASDAQ:TSRO)

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