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 research 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. “
Other research analysts also recently issued research reports about the stock. Robert W. Baird increased their price objective on shares of Tesaro to $120.00 in a report on Monday. Mizuho upped their target price on shares of Tesaro from $67.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, July 5th. Citigroup Inc. upped their target price on shares of Tesaro from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, July 1st. Wedbush restated a “buy” rating on shares of Tesaro in a research report on Thursday, June 30th. Finally, FBR & Co restated a “buy” rating on shares of Tesaro in a research report on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the stock. Tesaro currently has a consensus rating of “Buy” and a consensus price target of $109.76.
Tesaro (NASDAQ:TSRO) traded down 1.59% during mid-day trading on Tuesday, reaching $116.04. The company’s stock had a trading volume of 903,748 shares. Tesaro has a one year low of $29.51 and a one year high of $122.89. The firm’s 50 day moving average is $97.07 and its 200-day moving average is $69.78. The stock’s market cap is $5.96 billion.
Tesaro (NASDAQ:TSRO) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.28) EPS for the quarter, beating 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 business earned $36.60 million during the quarter, compared to the consensus estimate of $4.98 million. During the same quarter in the prior year, the firm earned ($1.51) EPS. Equities analysts expect that Tesaro will post ($7.36) earnings per share for the current fiscal year.
In other news, SVP Martin H. Jr. Huber sold 408 shares of the stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $108.12, for a total transaction of $44,112.96. Following the transaction, the senior vice president now directly owns 1,250 shares in the company, valued at $135,150. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Jeffrey H. Hanke sold 29,166 shares of the stock in a transaction that occurred on Tuesday, August 30th. The shares were 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 in the company, valued at $2,509,442.64. The disclosure for this sale can be found here. Insiders own 40.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in TSRO. Tocqueville Asset Management L.P. increased its position in Tesaro by 28.8% in the second quarter. Tocqueville Asset Management L.P. now owns 31,750 shares of the biopharmaceutical company’s stock worth $2,669,000 after buying an additional 7,100 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in Tesaro during the second quarter worth about $240,000. Smith Asset Management Group LP acquired a new position in Tesaro during the second quarter worth about $406,000. Parametrica Management Ltd increased its position in Tesaro by 144.9% in the second quarter. Parametrica Management Ltd now owns 13,988 shares of the biopharmaceutical company’s stock worth $1,176,000 after buying an additional 8,277 shares in the last quarter. Finally, BNP Paribas Arbitrage SA acquired a new position in Tesaro during the second quarter worth about $941,000. 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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