UPDATE: Deutsche Bank Initiates TESARO to Buy on Pipeline Upside

Deutsche Bank initiated TESARO

with a Buy rating and a $27.00 price target. Deutsche Bank commented, "Tesaro is developing what we believe to be a best in class chemo-induced nausea and vomiting (CINV) drug called rolapitant. We expect phase 3 data in 2H13 to hit its primary endpoint & see potential for upside if the company shows a benefit preventing nausea. We also see the Tesaro's PARP inhibitor, niraparib, offering upside in 2013 and beyond as it enters in phase 3. The street assigns little value to the pipeline." TESARO closed at $18.06 on Tuesday.