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Fly News Breaks for November 16, 2018
TSRO
Nov 16, 2018 | 17:08 EDT
Piper Jaffray analyst Christopher Raymond kept his Neutral rating and $35 price target on Tesaro, saying that today's Bloomberg report about the company exploring a sale in response to interest from potential buyers was a "headscratcher". The analyst notes that it is difficult to see the logic behind the deal given the headwinds faced by Zejula in the U.S. and in Europe. Raymond adds that the company's immuno-oncology portfolio "is still not ready for prime time" and that he would not be among the buyers of Tesaro stock.
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