Tesaro Inc. (NASDAQ:TSRO) shares dropped 5.8% during trading on Tuesday . The company traded as low as $93.24 and last traded at $93.32, with a volume of 775,211 shares traded. The stock had previously closed at $99.09.

TSRO has been the topic of a number of recent analyst reports. FBR & Co raised their price target on Tesaro from $65.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 29th. Mizuho raised their price target on Tesaro from $67.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, July 5th. Robert W. Baird initiated coverage on Tesaro in a research report on Monday, July 18th. They issued an “outperform” rating and a $105.00 price target on the stock. Jefferies Group cut Tesaro from a “buy” rating to a “hold” rating and raised their price target for the stock from $53.00 to $75.00 in a research report on Thursday, June 30th. They noted that the move was a valuation call. Finally, Citigroup Inc. raised their price target on Tesaro from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, August 8th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $85.50.

The stock’s market cap is $4.76 billion. The firm has a 50 day moving average of $91.94 and a 200-day moving average of $55.95.

Tesaro (NASDAQ:TSRO) last issued its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) EPS for the quarter, beating analysts’ consensus estimates of ($1.71) by $0.43. During the same period in the prior year, the company earned ($1.51) EPS. The firm had revenue of $36.60 million for the quarter, compared to analysts’ expectations of $4.98 million. On average, equities analysts anticipate that Tesaro Inc. will post ($7.31) EPS for the current year.

In related news, VP Jeffrey H. Hanke sold 12,500 shares of the stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $74.35, for a total transaction of $929,375.00. Following the sale, the vice president now owns 12,500 shares of the company’s stock, valued at approximately $929,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Edward C. English sold 7,000 shares of the stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $40.75, for a total value of $285,250.00. Following the sale, the vice president now directly owns 3,500 shares in the company, valued at approximately $142,625. The disclosure for this sale can be found here.

Other hedge funds recently modified their holdings of the company. Jennison Associates LLC boosted its stake in shares of Tesaro by 157.5% in the fourth quarter. Jennison Associates LLC now owns 938,461 shares of the biopharmaceutical company’s stock worth $49,100,000 after buying an additional 574,041 shares during the period. Bank of Montreal Can boosted its stake in Tesaro by 9,925.5% in the fourth quarter. Bank of Montreal Can now owns 24,362 shares of the biopharmaceutical company’s stock valued at $1,275,000 after buying an additional 24,119 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Tesaro by 9.3% in the fourth quarter. Rhumbline Advisers now owns 22,403 shares of the biopharmaceutical company’s stock valued at $1,172,000 after buying an additional 1,915 shares during the last quarter.

TESARO, Inc is an oncology-focused biopharmaceutical company. The Company acquires, in-licenses and develops oncology product candidates. It operates in business of developing and commercializing oncology-focused therapeutics segment. It has in-licensed and are developing oncology-related product candidates, including intravenous (IV) rolapitant and niraparib, as well as product candidates under its immuno-oncology platform.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.