Opko Health Inc (OPK)

[tomsylver]

BMO Capital analyst Jim Birchenough reiterated an Outperform rating and $69 price target on Tesaro (NASDAQ: TSRO) after abstracts were released for the American Association of Cancer Research meeting, which is being convened in Philadelphia, April 18-22. TSRO and partner AnaptysBio will present data for both mouse and human IO antibodies targeting PD-1, TIM-3 and LAG-3.

Birchenough's view:

These data continue to support TSRO’s investment in the AnaptysBio portfolio of PD-1, LAG-3 and TIM-3 antibodies.
TSRO expects to file an IND for TSR-042, an anti-PD-1 MAb by year-end 2015, with INDs for a LAG-3, TIM-3, and bispecific PD-1/LAG-3 and PD-1/TIM-3 following every 1-2 quarters.
TSRO’s other oncology assets such as PARP inhibitor niraparib or ALK/TRK inhibitor TSR-011 could be evaluated with one or more of the IO antibodies.