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Tesaro worth $240/share in takeout: SunTrust

June 2, 2017

SunTrust’s Peter Lawson says TESARO (TSRO +1%), once again abuzz with takeout chatter, should fetch $240 (59% upside) a share. A key upcoming event is the release of late-stage data (ARIEL 3 study) on Clovis Oncology’s Rubraca (rucaparib), a competitive PARP inhibitor to ZEJULA (niraparib), at the end of the month. The results should “clarify the competitive landscape” for potential acquirers.

According to a recent report by the WSJ, the level of interest in a takeover has been a bit soft after the company reached out to prospective buyers about a possible transaction.

http://bit.ly/2qKSgDD

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