Tocqueville Asset Management L.P. Sells 69,700 Shares of TESARO Inc (TSRO)
Tocqueville Asset Management L.P. cut its position in shares of TESARO Inc (NASDAQ:TSRO) by 91.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,415 shares of the biopharmaceutical company’s stock after selling 69,700 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in TESARO were worth $285,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in TESARO during the 1st quarter worth approximately $110,000. Ostrum Asset Management bought a new position in TESARO during the 1st quarter worth approximately $111,000. American International Group Inc. grew its position in TESARO by 138.8% during the 1st quarter. American International Group Inc. now owns 2,099 shares of the biopharmaceutical company’s stock worth $120,000 after acquiring an additional 1,220 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in TESARO during the 1st quarter worth approximately $220,000. Finally, Stifel Financial Corp bought a new position in TESARO during the 1st quarter worth approximately $241,000.
In other TESARO news, Director Arnold L. Oronsky sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $26.77, for a total value of $267,700.00. Following the completion of the sale, the director now owns 12,479 shares in the company, valued at approximately $334,062.83. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders sold 10,259 shares of company stock valued at $276,463. Company insiders own 33.70% of the company’s stock.
TESARO (NASDAQ:TSRO) last released its quarterly earnings data on Thursday, August 2nd. The biopharmaceutical company reported ($3.04) earnings per share for the quarter, missing the consensus estimate of ($2.66) by ($0.38). TESARO had a negative return on equity of 285.30% and a negative net margin of 180.29%. The business had revenue of $57.21 million during the quarter, compared to analysts’ expectations of $65.50 million. During the same quarter last year, the business posted ($2.82) EPS. The company’s quarterly revenue was up 94.2% compared to the same quarter last year. research analysts expect that TESARO Inc will post -11.08 earnings per share for the current year.
TSRO has been the topic of several recent research reports. ValuEngine lowered TESARO from a “hold” rating to a “sell” rating in a research report on Saturday, July 28th. Bank of America lowered TESARO from a “buy” rating to a “neutral” rating in a research report on Monday, August 6th. HC Wainwright reduced their price target on TESARO to $71.00 and set a “buy” rating on the stock in a research report on Friday, July 20th. Barclays upgraded TESARO from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, June 27th. Finally, Zacks Investment Research lowered TESARO from a “hold” rating to a “sell” rating in a research report on Wednesday, August 8th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. TESARO has a consensus rating of “Hold” and a consensus target price of $82.78.
TESARO Company Profile
Tesaro, Inc, an oncology-focused biopharmaceutical company, identifies, acquires, develops, and commercializes cancer therapeutics and oncology supportive care products in the United States. It offers ZEJULA (niraparib), an orally active and potent poly polymerase inhibitor for the maintenance treatment of women with recurrent epithelial ovarian, fallopian tube, or primary peritoneal cancer; and VARUBI (rolapitant), a neurokinin-1, or NK-1, receptor antagonist for the prevention of chemotherapy induced nausea and vomiting.
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