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Fly News Breaks for June 29, 2016
TSRO
Jun 29, 2016 | 09:20 EDT
Wells Fargo analyst Jim Birchenough raised his price target range for TESARO to $122-$132 from $88-$95 after the company announced that the phase 3 NOVA trial of niraparib achieved its primary endpoint of progression-free survival. The results are "remarkable" and suggest broad niraparib benefit, Birchenough tells investors in a research note. He views the data as a "best case scenario." The analyst reiterates an Outperform rating on TESARO. The shares are rallying 81%, or $29.97, to $67.18 in pre-market trading.
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