Tesaro (TSRO) PT Raised to $68 at Cantor Fitzgerald Following Strong SOLO1 Data

Cantor Fitzgerald analyst Alethia Young raised the price target on Tesaro (NASDAQ: TSRO) to $68.00 (from $57.00) while maintaining an Overweight rating. Today at the European oncology meeting, AstraZeneca presented the SOLO1 study using olaparib (a PARP inhibitor) as a first-line treatment for BRCA ovarian cancer patients. Young thinks that the SOLO1 data is a positive read for Tesaro's first-line study PRIMA (data expected 2H19).

These SOLO1 data continue to reinforce our view that PARP inhibitors will be used in firstline treatment. Cantor Fitzgerald models peak overall first-line market share for Tesaro at 43% vs. 47% for AstraZeneca and 10% for Clovis (Not Covered), which is just starting firstline studies with PD-1 with Bristol Myers (Not Covered).

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