Mizuho Securities Raises Price Target on TESARO (TSRO) to $94 Following NOVA Trial Results

Mizuho Securities reiterated a Buy rating on Tesaro (NASDAQ: TSRO), and raised the price target to $94.00 (from $67.00), following NOVA results. Following the trial, Mizuho increased probabilities of success for niraparib in 1st, 2nd and 4th line ovarian cancer from 35%, 60%, 60%, to 50%, 85% and 85%.

Analyst Eric Criscuolo commented, "We're raising our PT to $94 and reiterate our Buy rating. Despite the massive stock move, we still see upside. We feel NOVA results put TSRO at the head of the PARP class data-wise. The story is significantly de-risked, potentially attracting suitors, and there remains a health dose of catalysts on both the commercial and pipeline sides to keep momentum going, even without M&A."

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 $81.06 yesterday.

You May Also Be Interested In

• QuantumScape (QS) PT Lowered to $6 at Truist Securities
• Intuitive Surgical (ISRG) PT Raised to $435 at Piper Sandler
• London Stock Exchange Group Plc. (LSEG:LN) (LNSTY) PT Raised to GBP88 at HSBC