Why Sought-After Tesaro's Rumored Sale Could Bring in $200 Per Share
Cancer biotech Tesaro could fetch north of $200 per share in a rumored takeover, Credit Suisse and Leerink analysts suggested this week, as Tesaro stock bounded to record highs Wednesday and Thursday.
But on Friday, Leerink analyst Seamus Fernandez recommended Tesaro buyers hang out on the sidelines amid the potential M&A flurry. He downgraded Tesaro stock to a market perform rating from outperform, though he upped his price target to 186 from 152.
In the stock market today, Tesaro stock fell 2.6% to 182.02, after touching a record high of 192 intraday Thursday.
But on Friday, Leerink analyst Seamus Fernandez recommended Tesaro buyers hang out on the sidelines amid the potential M&A flurry. He downgraded Tesaro stock to a market perform rating from outperform, though he upped his price target to 186 from 152.
In the stock market today, Tesaro stock fell 2.6% to 182.02, after touching a record high of 192 intraday Thursday.