Hillhouse Capital Management Ltd. Buys Shares of 29,697 TESARO, Inc. (TSRO)
Hillhouse Capital Management Ltd. bought a new stake in shares of TESARO, Inc. (NASDAQ:TSRO) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 29,697 shares of the biopharmaceutical company’s stock, valued at approximately $4,153,000. Hillhouse Capital Management Ltd. owned about 0.05% of TESARO at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Botty Investors LLC purchased a new stake in TESARO during the 2nd quarter valued at $140,000. Nordea Investment Management AB purchased a new stake in TESARO during the 2nd quarter valued at $167,000. Meeder Asset Management Inc. purchased a new stake in TESARO during the 1st quarter valued at $177,000. Oppenheimer Asset Management Inc. boosted its stake in TESARO by 3,042.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,477 shares of the biopharmaceutical company’s stock valued at $206,000 after purchasing an additional 1,430 shares during the last quarter. Finally, BB&T Securities LLC purchased a new stake in TESARO during the 2nd quarter valued at $222,000.
Shares of TESARO, Inc. (NASDAQ TSRO) traded down 2.10% during trading on Thursday, reaching $119.26. The company had a trading volume of 172,486 shares. TESARO, Inc. has a 1-year low of $96.52 and a 1-year high of $192.94. The company’s 50 day moving average is $121.70 and its 200-day moving average is $135.65. The stock’s market capitalization is $6.46 billion.
TESARO (NASDAQ:TSRO) last posted its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.52) by ($0.30). The business had revenue of $29.50 million for the quarter, compared to analyst estimates of $18.61 million. TESARO had a negative net margin of 1,301.19% and a negative return on equity of 104.00%. The company’s revenue for the quarter was down 17.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.28) earnings per share. On average, equities research analysts anticipate that TESARO, Inc. will post ($8.59) earnings per share for the current year.
TSRO has been the topic of several recent analyst reports. Citigroup Inc. reiterated a “buy” rating and set a $216.00 target price on shares of TESARO in a research note on Monday, September 11th. Robert W. Baird reiterated a “neutral” rating and set a $140.00 target price (down from $155.00) on shares of TESARO in a research note on Thursday, August 10th. Cowen and Company cut their target price on TESARO from $145.00 to $124.00 and set a “market perform” rating on the stock in a research note on Monday, June 19th. Credit Suisse Group set a $190.00 target price on TESARO and gave the company a “buy” rating in a research note on Friday, August 18th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $183.00 target price on shares of TESARO in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. TESARO currently has an average rating of “Buy” and an average target price of $170.74.
In other TESARO news, VP Grant C. Bogle sold 14,167 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $135.00, for a total value of $1,912,545.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Martin H. Jr. Huber sold 592 shares of the company’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $118.60, for a total transaction of $70,211.20. Following the completion of the transaction, the senior vice president now owns 6,943 shares of the company’s stock, valued at approximately $823,439.80. The disclosure for this sale can be found here. Insiders have sold 35,692 shares of company stock valued at $4,628,976 over the last 90 days. 40.50% of the stock is currently owned by insiders.
TESARO Company Profile
TESARO, Inc is an oncology-focused biopharmaceutical company. The Company operates through the business of developing and commercializing of oncology-focused therapeutics segment. It is developing oncology-related product candidates, including rolapitant, niraparib and the product candidates under its immuno-oncology platform.
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