Tesaro (TSRO) PT Raised to $128 at RBC Capital
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RBC Capital analyst Adnan Butt reiterated an Outperform rating and raised its price target on Tesaro (NASDAQ: TSRO) to $128.00 (from $122.00) following NOVA Phase 3 trial details.
Butt commented, "Details show biomarker/HRD-positive benefit is not driven by somatic BRCA patients alone, biomarker/HRD-negative population shows a stat sig benefit, which allows TSRO to file broadly for platinum sensitive ovarian cancer patients, the broadest addressable market and an upside scenario, and safety/tolerability differences could point to further PARP inhibitor separation. Niraparib is the PARP inhibitor to beat and there is no legitimate competitive threat near-term. PT to $128 from $122."
Shares of Tesaro closed at $99.26 yesterday.
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