TESARO, Inc. (TSRO) Short Interest Update
TESARO, Inc. (NASDAQ:TSRO) was the recipient of a significant decrease in short interest in the month of September. As of September 29th, there was short interest totalling 6,767,191 shares, a decrease of 28.5% from the September 15th total of 9,459,637 shares. Approximately 17.9% of the shares of the stock are short sold. Based on an average trading volume of 570,698 shares, the short-interest ratio is presently 11.9 days.
In other news, VP Grant C. Bogle sold 14,167 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $135.00, for a total value of $1,912,545.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Edward C. English sold 10,862 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $134.92, for a total value of $1,465,501.04. Following the completion of the transaction, the vice president now directly owns 6,258 shares of the company’s stock, valued at approximately $844,329.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,692 shares of company stock valued at $4,628,976. Corporate insiders own 40.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Achmea Investment Management B.V. purchased a new stake in shares of TESARO during the 2nd quarter valued at approximately $234,000. Public Employees Retirement System of Ohio raised its position in shares of TESARO by 82.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 36,667 shares of the biopharmaceutical company’s stock valued at $5,128,000 after buying an additional 16,569 shares during the period. Intellectus Partners LLC raised its position in shares of TESARO by 17.7% during the 2nd quarter. Intellectus Partners LLC now owns 6,310 shares of the biopharmaceutical company’s stock valued at $883,000 after buying an additional 950 shares during the period. California State Teachers Retirement System raised its position in shares of TESARO by 20.8% during the 2nd quarter. California State Teachers Retirement System now owns 68,090 shares of the biopharmaceutical company’s stock valued at $9,523,000 after buying an additional 11,706 shares during the period. Finally, Cubist Systematic Strategies LLC raised its position in shares of TESARO by 291.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 7,105 shares of the biopharmaceutical company’s stock valued at $994,000 after buying an additional 5,291 shares during the period.
Shares of TESARO (TSRO) opened at 121.23 on Friday. The stock’s market capitalization is $6.57 billion. The firm’s 50-day moving average price is $122.29 and its 200-day moving average price is $134.29. TESARO has a 12 month low of $106.64 and a 12 month high of $192.94.
TESARO (NASDAQ:TSRO) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($2.82) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.52) by ($0.30). The company had revenue of $29.50 million for the quarter, compared to analyst estimates of $18.61 million. TESARO had a negative return on equity of 104.00% and a negative net margin of 1,301.19%. 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 forecast that TESARO will post ($8.63) EPS for the current year.
TSRO has been the subject of a number of recent analyst reports. Cowen and Company dropped their price objective on TESARO from $145.00 to $124.00 and set a “market perform” rating for the company in a research note on Monday, June 19th. Bank of America Corporation reissued a “buy” rating and set a $154.00 price target on shares of TESARO in a research note on Tuesday, June 20th. Wells Fargo & Company reissued an “outperform” rating and set a $236.00 price target on shares of TESARO in a research note on Tuesday, June 20th. Leerink Swann dropped their price target on TESARO from $164.00 to $143.00 and set a “market perform” rating for the company in a research note on Tuesday, June 20th. Finally, Raymond James Financial, Inc. reissued a “market perform” rating on shares of TESARO in a research note on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $170.19.
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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