Seeking Alpha

Deutsche lowers target on Tesaro

  • "We had expected the trial to hit on nausea — we were wrong," Deutsche Bank's Robyn Karnauskas says, referencing Phase 3 results for rolapitant, Tesaro's (TSRO) NK-1 receptor antagonist.
  • Karnauskas lowers the price target on the shares to $62 from $80, noting that Deutsche now sees 40% market share for the drug.
  • "Worst case, stock could be flat near term until launch gets closer when we think many will want to own," the analyst concludes.
  • TSRO +2.2% premarket.
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