Stock price movements
On December 7, Tesaro (TSRO) closed at $73.95, which is 0.23% higher than its previous closing price. The company rose 45.48% from $31.88 on November 1 to $46.38 on November 30. Tesaro has risen 59.44% between November 30 and December 7.
On December 3, GlaxoSmithKline (GSK) issued a press release announcing that it would be acquiring Tesaro for a consideration of around $5.1 billion, or 4 billion pounds. As per the press release, GlaxoSmithKline agreed to pay $75 per share of Tesaro in cash, which is 110% higher than the latter’s 30-day volume weighted average price. After this announcement, Tesoro stock rose 58.47% from $46.38 on December 2 to $73.50 on December 3. To know more about the proposed acquisition deal, please read GlaxoSmithKline Agreed to Acquire Tesaro. Based on its closing price on December 7, the company returned 61.57% in the last week, 151.53% in the last month, and 106.62% in the last quarter. Tesaro also witnessed returns of 69.34% in the last half year, -12.75% in the last year, and -10.76% YTD.
Analyst recommendations and target price for Tesaro
The 12-month consensus analyst recommendation for Tesaro on December 10 is a “hold.” The 12-month consensus target price for the company is $73.13, which is 1.11% lower than its last closing price on December 7. The highest target price estimate for the company is $83, and the lowest target price estimate is $38.
Out of the 18 analysts covering Tesaro on December 10, one analyst has rated the company as a “strong buy,” three analysts have rated the company as a “buy,” and 14 analysts have rated the company as a “hold.”
In the next article, we’ll discuss revenue projections for Tesaro for fiscal 2018.