Tesaro Inc. (TSRO) Stock Price Down 5.8%
Tesaro Inc. (NASDAQ:TSRO)’s share price fell 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.
A number of brokerages have recently commented on TSRO. Zacks Investment Research raised shares of Tesaro from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Thursday, April 28th. Jefferies Group reaffirmed a “buy” rating on shares of Tesaro in a research report on Sunday, May 8th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Tesaro in a research report on Saturday, May 14th. RBC Capital Markets reissued an “outperform” rating and set a $122.00 price objective on shares of Tesaro in a report on Wednesday. Finally, Leerink Swann reissued an “outperform” rating and set a $108.00 price objective on shares of Tesaro in a report on Thursday. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $86.43.
The firm’s 50 day moving average is $92.03 and its 200 day moving average is $56.59. The stock’s market capitalization is $4.47 billion.
Tesaro (NASDAQ:TSRO) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.28) EPS for the quarter, topping the consensus estimate of ($1.71) by $0.43. During the same quarter in the prior year, the company posted ($1.51) earnings per share. The company earned $36.60 million during the quarter, compared to analyst estimates of $4.98 million. 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 company’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $74.35, for a total transaction of $929,375.00. Following the sale, the vice president now directly owns 12,500 shares of the company’s stock, valued at approximately $929,375. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Edward C. English sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of $40.75, for a total transaction of $285,250.00. Following the sale, the vice president now directly owns 3,500 shares in the company, valued at $142,625. The disclosure for this sale can be found here.
A number of large investors have made changes to their positions in TSRO. Rhumbline Advisers increased its stake in shares of 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. Jennison Associates LLC increased 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 valued at $49,100,000 after buying an additional 574,041 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in shares of 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.
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.
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