Tesaro Inc. (TSRO) Downgraded to “Sell” at Zacks Investment Research
Tesaro Inc. (NASDAQ:TSRO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors 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. “
Several other research analysts have also recently commented on TSRO. FBR & Co reiterated a “buy” rating on shares of Tesaro in a report on Thursday, June 30th. SunTrust Banks Inc. reiterated a “buy” rating and set a $91.60 price target on shares of Tesaro in a report on Wednesday, September 14th. Wedbush reiterated a “buy” rating on shares of Tesaro in a report on Thursday, June 30th. Credit Suisse Group AG reiterated an “outperform” rating and set a $122.00 price target (up previously from $90.00) on shares of Tesaro in a report on Monday. Finally, Robert W. Baird boosted their price target on shares of Tesaro to $120.00 in a report on Monday. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $109.76.
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Shares of Tesaro (NASDAQ:TSRO) traded down 1.59% on Tuesday, hitting $116.04. 903,748 shares of the company traded hands. Tesaro has a 12 month low of $29.51 and a 12 month high of $122.89. The company’s market capitalization is $5.96 billion. The stock’s 50-day moving average price is $97.07 and its 200-day moving average price is $69.78.
Tesaro (NASDAQ:TSRO) last announced its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, topping the consensus estimate of ($1.71) by $0.43. Tesaro had a negative net margin of 783.97% and a negative return on equity of 205.63%. The firm had revenue of $36.60 million for the quarter, compared to the consensus estimate of $4.98 million. During the same period in the prior year, the firm earned ($1.51) EPS. On average, equities analysts predict that Tesaro will post ($7.36) 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 on Thursday, September 8th. The shares were sold at an average price of $88.54, for a total transaction of $619,780.00. Following the completion of the transaction, the vice president now owns 3,500 shares in the company, valued at approximately $309,890. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jeffrey H. Hanke sold 29,166 shares of the company’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $86.04, for a total transaction of $2,509,442.64. Following the transaction, the vice president now owns 29,166 shares of the company’s stock, valued at approximately $2,509,442.64. The disclosure for this sale can be found here. Corporate insiders own 40.50% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. BlackRock Fund Advisors increased its position in shares of Tesaro by 1.8% in the first quarter. BlackRock Fund Advisors now owns 1,293,906 shares of the biopharmaceutical company’s stock worth $56,971,000 after buying an additional 23,384 shares during the last quarter. BlackRock Inc. increased its position in shares of Tesaro by 13.3% in the first quarter. BlackRock Inc. now owns 7,096 shares of the biopharmaceutical company’s stock worth $312,000 after buying an additional 834 shares during the last quarter. venBio Select Advisor LLC purchased a new position in shares of Tesaro during the first quarter worth approximately $6,605,000. Pictet Asset Management Ltd. increased its position in shares of Tesaro by 35.8% in the first quarter. Pictet Asset Management Ltd. now owns 55,000 shares of the biopharmaceutical company’s stock worth $2,225,000 after buying an additional 14,500 shares during the last quarter. Finally, Emerald Acquisition Ltd. purchased a new position in shares of Tesaro during the second quarter worth approximately $23,685,000. 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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