Tesaro Inc. (TSRO) Downgraded by Zacks Investment Research
Tesaro Inc. (NASDAQ:TSRO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
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. “
Other equities research analysts have also issued research reports about the company. FBR & Co raised their target price on Tesaro from $65.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 29th. Jefferies Group lowered Tesaro from a “buy” rating to a “hold” rating and raised their target price for the stock from $53.00 to $75.00 in a research report on Thursday, June 30th. They noted that the move was a valuation call. Leerink Swann raised their target price on Tesaro from $65.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, June 30th. Mizuho reissued an “outperform” rating and set a $67.00 target price on shares of Tesaro in a research report on Thursday, June 30th. Finally, Wells Fargo & Co. reissued an “outperform” rating on shares of Tesaro in a research report on Thursday, June 30th. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $109.76.
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Shares of Tesaro (NASDAQ:TSRO) traded down 1.55% during midday trading on Tuesday, hitting $116.08. 907,365 shares of the stock were exchanged. The firm’s 50-day moving average is $97.07 and its 200 day moving average is $69.78. Tesaro has a 52-week low of $29.51 and a 52-week high of $122.89. The firm’s market cap is $5.96 billion.
Tesaro (NASDAQ:TSRO) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.71) by $0.43. The company had revenue of $36.60 million for the quarter, compared to analyst estimates of $4.98 million. Tesaro had a negative return on equity of 205.63% and a negative net margin of 783.97%. During the same quarter last year, the company earned ($1.51) EPS. On average, analysts forecast that Tesaro will post ($7.36) earnings per share for the current year.
In related news, VP Jeffrey H. Hanke sold 29,166 shares of Tesaro stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $86.04, for a total value of $2,509,442.64. Following the sale, the vice president now directly owns 29,166 shares in the company, valued at $2,509,442.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Martin H. Jr. Huber sold 408 shares of Tesaro stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $108.12, for a total value of $44,112.96. Following the completion of the sale, the senior vice president now owns 1,250 shares in the company, valued at $135,150. The disclosure for this sale can be found here. 40.50% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Passport Capital LLC acquired a new stake in Tesaro during the second quarter worth $61,720,000. FMR LLC increased its stake in Tesaro by 9.6% in the second quarter. FMR LLC now owns 6,097,449 shares of the biopharmaceutical company’s stock worth $512,490,000 after buying an additional 531,892 shares during the period. Pictet Asset Management Ltd. increased its stake in Tesaro by 661.3% in the second quarter. Pictet Asset Management Ltd. now owns 418,730 shares of the biopharmaceutical company’s stock worth $19,387,000 after buying an additional 363,730 shares during the period. Emerald Acquisition Ltd. acquired a new stake in Tesaro during the second quarter worth $23,685,000. Finally, Vanguard Group Inc. increased its stake in Tesaro by 11.0% in the second quarter. Vanguard Group Inc. now owns 2,216,739 shares of the biopharmaceutical company’s stock worth $186,317,000 after buying an additional 219,902 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.
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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