Tesaro Inc. (TSRO) Downgraded to “Sell” at Zacks Investment Research
According to Zacks, “Tesaro, Inc. is an oncology-focused biopharmaceutical company for cancer patients. The Company’s product portfolio consists of Rolapitant, a neurokinin-1 receptor antagonist for the prevention of chemotherapy induced nausea and vomiting, TSR-011, an orally available anaplastic lymphoma kinase inhibitor for the treatment of non-small cell lung cancer and other cancer indications, and Niraparib, an orally active and potent poly (ADP-ribose) polymerase inhibitor for the treatment of patients with solid tumors. Tesaro, Inc. is based in Waltham, Massachusetts. “
TSRO has been the subject of a number of other research reports. RBC Capital Markets reaffirmed an outperform rating and set a $122.00 target price on shares of Tesaro in a report on Wednesday, August 24th. Leerink Swann upped their target price on shares of Tesaro from $65.00 to $95.00 and gave the stock an outperform rating in a report on Thursday, June 30th. Credit Suisse Group AG reaffirmed an outperform rating and set a $122.00 target price (up previously from $90.00) on shares of Tesaro in a report on Monday, October 10th. Wedbush reaffirmed a buy rating on shares of Tesaro in a report on Friday, August 5th. Finally, Robert W. Baird began coverage on shares of Tesaro in a report on Monday, July 18th. They set an outperform rating and a $105.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $110.11.
Shares of Tesaro (NASDAQ:TSRO) opened at 115.05 on Tuesday. Tesaro has a one year low of $29.51 and a one year high of $122.89. The company’s market cap is $5.91 billion. The company’s 50-day moving average is $99.84 and its 200-day moving average is $71.24.
Tesaro (NASDAQ:TSRO) last issued its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) EPS for the quarter, topping the consensus estimate of ($1.71) by $0.43. The company earned $36.60 million during the quarter, compared to analyst estimates of $4.98 million. Tesaro had a negative net margin of 783.97% and a negative return on equity of 205.63%. During the same quarter in the previous year, the firm earned ($1.51) EPS. On average, equities analysts predict that Tesaro will post ($7.36) EPS for the current year.
In related news, VP Jeffrey H. Hanke sold 29,166 shares of the company’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $86.04, for a total value of $2,509,442.64. Following the completion of the sale, the vice president now owns 29,166 shares of the company’s stock, valued at $2,509,442.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Martin H. Jr. Huber sold 408 shares of the company’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $108.12, for a total transaction of $44,112.96. Following the completion of the sale, the senior vice president now directly owns 1,250 shares of the company’s stock, valued at approximately $135,150. The disclosure for this sale can be found here. 40.50% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. CenturyLink Investment Management Co purchased a new stake in shares of Tesaro during the third quarter worth about $172,000. KCG Holdings Inc. purchased a new stake in shares of Tesaro during the second quarter worth about $228,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Tesaro during the second quarter worth about $240,000. Bluestein R H & Co. purchased a new stake in shares of Tesaro during the second quarter worth about $252,000. Finally, Neuberger Berman Group LLC purchased a new stake in shares of Tesaro during the second quarter worth about $256,000. 88.88% of the stock is owned by hedge funds and other institutional investors.
Tesaro Company Profile
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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