TESARO (TSRO) Phase 3 Niraparib Results a 'Grand Slam' - Mizuho

Mizuho Securities analyst Eric Criscuolo weighed in on Tesaro (NASDAQ: TSRO), calling results from the Phase III NOVA trial a "grand slam."

Criscuolo commented, "The trial met its primary endpoints in all three ovarian cancer patient cohorts: germline BRCA-mutant, non-germline but HRD positive, and in the overall non-germline patients. The data were even better than our bullish expectations, where we expected success in the gerrmline BRCA and HRD positive cohorts. Results should significantly de-risk the story for both investors and potential acquirers, and likely places TSRO at the head of the PARP space data-wise. The trial's success also highlights the ability of management to design and execute a differentiated, impactful trial. Results should have a positive read-through for CLVS (Neutral), which is developing its own PARP and using a similar HRD-like signature, and MYGN (Neutral), which makes the HRD test. However, the trial's results could call into question the need for HRD testing with niraparib."

The firm maintained an Outperform rating and its estimates and $67 price target are under review.

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 $37.21 yesterday.

You May Also Be Interested In

• Nomura/Instinet Starts Clean Max Enviro Energy Solutions (CLEANMAX:IN) at Buy
• Axis Capital Limited Upgrades Blue Star Limited (BLSTR:IN) to Buy (1)
• BofA Securities Starts SBI Funds Management (SBIFUNDS:IN) at Buy