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TESARO Inc (NASDAQ:TSRO) has strong prospects in immuno-oncology, as it prepares for four commercial launches in 2017 and plans to initiate pivotal studies for several products, Argus’s Stephen Biggar said in a report. He initiated coverage of the company with a Buy rating and a price target of $210.
Tesaro reported a net loss for fourth-quarter 2016 of $2.60 per share, versus $1.89 in Q4 of 2015. Revenue came in at $4.2 million, compared to $0.2 million in Q4 2015.
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Product Pipeline
Tesaro has planned new product launches in the US and Europe. “We expect continued losses in the near term, as the company markets Varubi in the U.S., seeks approval for the drug in Europe, and prepares for the U.S. launch of niraparib for ovarian cancer,” Biggar wrote.
Tesaro would likely continue to study niraparib as a treatment for breast and lung cancers. The analyst added that the company has a range of potential products, led by TSR-042, in the immuno-oncology space.
The company exited 2016 with $786 million in cash. This seems sufficient to fund Tesaro’s drug development program and the company could “access the capital markets on favorable terms if necessary,” Biggar mentioned.
The price target includes a 20 percent acquisition premium, as the probability of a takeover seems high, given the company’s progress in drug development and strong positioning in target markets.
At last check, shares of Tesaro were up 3.34 percent at $158.75.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.