Tesaro (TSRO) Expected to Announce Earnings of -$2.77 Per Share

Brokerages expect Tesaro (NASDAQ:TSRO) to post ($2.77) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Tesaro’s earnings, with the highest EPS estimate coming in at ($2.19) and the lowest estimate coming in at ($3.42). Tesaro reported earnings per share of ($2.55) during the same quarter last year, which would suggest a negative year over year growth rate of 8.6%. The business is expected to announce its next quarterly earnings results on Tuesday, May 8th.

On average, analysts expect that Tesaro will report full-year earnings of ($9.53) per share for the current year, with EPS estimates ranging from ($11.51) to ($7.70). For the next fiscal year, analysts forecast that the firm will post earnings of ($6.34) per share, with EPS estimates ranging from ($8.80) to ($2.54). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that follow Tesaro.

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Tesaro (NASDAQ:TSRO) last announced its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($3.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($2.39) by ($0.96). Tesaro had a negative return on equity of 126.44% and a negative net margin of 222.15%. The business had revenue of $48.02 million for the quarter, compared to analyst estimates of $51.78 million.

A number of research analysts have issued reports on the company. Cowen reduced their price target on Tesaro from $125.00 to $80.00 and set a “market perform” rating for the company in a research report on Tuesday, January 2nd. Piper Jaffray reiterated a “hold” rating and set a $80.00 price target on shares of Tesaro in a research report on Tuesday, January 2nd. Citigroup restated a “buy” rating and issued a $135.00 price objective (down previously from $216.00) on shares of Tesaro in a report on Wednesday, December 20th. Zacks Investment Research lowered Tesaro from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. Finally, HC Wainwright restated a “buy” rating and issued a $158.00 price objective on shares of Tesaro in a report on Friday, January 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $129.26.

Shares of TSRO stock opened at $52.26 on Friday. The company has a quick ratio of 4.39, a current ratio of 4.74 and a debt-to-equity ratio of 1.75. Tesaro has a 1 year low of $50.67 and a 1 year high of $168.92. The firm has a market cap of $2,970.25, a price-to-earnings ratio of -5.70 and a beta of 1.34.

In related news, CFO Timothy R. Pearson sold 2,575 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $54.86, for a total transaction of $141,264.50. Following the transaction, the chief financial officer now directly owns 7,303 shares of the company’s stock, valued at $400,642.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Leon O. Moulder, Jr. purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The shares were acquired at an average cost of $56.93 per share, for a total transaction of $284,650.00. Following the completion of the transaction, the chief executive officer now directly owns 1,018,828 shares of the company’s stock, valued at approximately $58,001,878.04. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 334,913 shares of company stock worth $19,083,294 and have sold 13,042 shares worth $760,526. 40.50% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of TSRO. TimesSquare Capital Management LLC raised its position in Tesaro by 226.1% during the fourth quarter. TimesSquare Capital Management LLC now owns 856,600 shares of the biopharmaceutical company’s stock valued at $70,986,000 after buying an additional 593,924 shares during the period. Renaissance Technologies LLC raised its position in Tesaro by 482.1% during the fourth quarter. Renaissance Technologies LLC now owns 357,400 shares of the biopharmaceutical company’s stock valued at $29,618,000 after buying an additional 296,000 shares during the period. BlackRock Inc. raised its position in Tesaro by 5.6% during the fourth quarter. BlackRock Inc. now owns 4,067,066 shares of the biopharmaceutical company’s stock valued at $337,039,000 after buying an additional 213,920 shares during the period. Element Capital Management LLC acquired a new position in Tesaro during the fourth quarter valued at $16,302,000. Finally, Millennium Management LLC raised its position in Tesaro by 151.7% during the fourth quarter. Millennium Management LLC now owns 304,549 shares of the biopharmaceutical company’s stock valued at $25,238,000 after buying an additional 183,552 shares during the period.

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Tesaro Company Profile

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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