Investors Buy Tesaro Inc. (TSRO) on Weakness
Traders bought shares of Tesaro Inc. (NASDAQ:TSRO) on weakness during trading on Friday. $50.28 million flowed into the stock on the tick-up and $39.91 million flowed out of the stock on the tick-down, for a money net flow of $10.37 million into the stock. Of all equities tracked, Tesaro had the 6th highest net in-flow for the day. Tesaro traded down ($3.26) for the day and closed at $88.70
TSRO has been the subject of several analyst reports. Leerink Swann reaffirmed an “outperform” rating and set a $69.00 target price on shares of Tesaro in a research report on Monday, March 14th. Wedbush reissued an “outperform” rating and issued a $72.00 price objective on shares of Tesaro in a research report on Wednesday, March 16th. Citigroup Inc. reissued a “buy” rating and issued a $65.00 price objective on shares of Tesaro in a research report on Thursday, March 17th. Jefferies Group reissued a “buy” rating on shares of Tesaro in a research report on Thursday, March 31st. Finally, Mizuho reissued a “buy” rating and issued a $67.00 price objective on shares of Tesaro in a research report on Wednesday, April 6th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Tesaro presently has an average rating of “Buy” and an average target price of $73.91.
The stock’s market capitalization is $4.07 billion. The company’s 50 day moving average is $52.01 and its 200 day moving average is $44.49.
Tesaro (NASDAQ:TSRO) last announced its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($2.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.69) by $0.53. The company had revenue of $0.31 million for the quarter, compared to the consensus estimate of $2.48 million. During the same period in the previous year, the business earned ($1.30) EPS. Analysts anticipate that Tesaro Inc. will post ($7.16) earnings per share for the current year.
In other Tesaro news, VP Edward C. English sold 7,000 shares of the company’s stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $40.75, for a total transaction of $285,250.00. Following the completion of the sale, the vice president now directly owns 3,500 shares in the company, valued at $142,625. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Jeffrey H. Hanke sold 12,500 shares of the company’s stock in a transaction dated 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 owns 12,500 shares of the company’s stock, valued at $929,375. The disclosure for this sale can be found here.
A number of hedge funds have bought and sold shares of the stock. Whittier Trust Co. raised its stake in Tesaro by 1.1% in the fourth quarter. Whittier Trust Co. now owns 20,945 shares of the biopharmaceutical company’s stock valued at $1,096,000 after buying an additional 220 shares during the last quarter. Rhumbline Advisers raised 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. Bank of Montreal Can raised 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. Nationwide Fund Advisors raised its stake in Tesaro by 1.3% in the fourth quarter. Nationwide Fund Advisors now owns 26,647 shares of the biopharmaceutical company’s stock valued at $1,394,000 after buying an additional 330 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new stake in Tesaro during the fourth quarter valued at about $1,864,000.
TESARO, Inc (TESARO) is oncology-focused biopharmaceutical company. The Company acquires, in-licenses and develops oncology product candidates. The Company has in-licensed and are developing three clinical-stage product candidates, rolapitant, niraparib and TSR-011. Rolapitant is a potent and long-acting neurokinin-1, or NK-1, receptor antagonist for the prevention of chemotherapy induced nausea and vomiting (CINV); Niraparib, formerly known as MK-4827, is an orally active and potent poly (ADP-ribose) polymerase, and TSR-011 is an orally available targeted anti-cancer agent which is a potent inhibitor of both anaplastic lymphoma kinase (ALK) and tropomyosin-related kinase (TRK).
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