Mizuho Securities Remains Bullish on Tesaro (TSRO) Following Announced JNJ Collaboration

Mizuho Securities reiterated an Outperform rating and $67.00 price target on Tesaro (NASDAQ: TSRO) following announced collaboration with JNJ’s subsidiary Janssen Biotech. TSRO will receive a $35mm upfront payment. JNJ's venture fund, Johnson and Johnson Innovation, will make a $50mm equity investment at $44.24/ share.

Analyst Eric Criscuolo commented, "TSRO announced a collaboration with JNJ’s (Not Rated) subsidiary Janssen Biotech, in which Janssen will take over worldwide development and commercialization (ex-Japan) of niraparib for prostate cancer indications. TSRO retains all other niraparib commercialization rights. We do not have any prostate revenues in our model."

For an analyst ratings summary and ratings history on Tesaro click here. For more ratings news on Tesaro click here.

Shares of Tesaro closed at $42.80 yesterday.

You May Also Be Interested In

• HSBC Downgrades Feng Tay Enterprises (9910:TT) to Hold
• TD Cowen Resumes EQT Corp. (EQT) at Hold
• Liberty Oilfield Services (LBRT) PT Raised to $21 at TD Cowen