Oppenheimer analyst Leah R. Cann maintained a Buy rating on Tesaro (NASDAQ: TSRO) yesterday and set a price target of $83. The company’s shares closed yesterday at $33.12, close to its 52-week low of $25.62.
Cann commented:
“The positive news that the JASPER study of Zejula in NSCLC is progressing to stage 2 follows positive pre-clinical data presented for Zejula in combination with anti-PD1/ anti-PD-L1 earlier this year. The JASPER data to-date provide preliminary evidence that the combination of anti-PD-1 antibody could be active as a first- line treatment for patients with non-small cell lung cancer and high levels of PD-L1. The NSCLC setting is a large market opportunity. Based on the stage and timing of JASPER, we have not included any revenue expectations in our model at this time for the NSCLC setting, but believe it offers the potential for meaningful upside for Tesaro.”
According to TipRanks.com, Cann is a 5-star analyst with an average return of 25.6% and a 54.5% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Miragen Therapeutics Inc, and CytomX Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Tesaro with a $54.27 average price target.
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Based on Tesaro’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $167 million. In comparison, last year the company had a GAAP net loss of $152 million.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock.
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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.
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