ValuEngine Lowers TESARO, Inc. (TSRO) to Sell
TESARO, Inc. (NASDAQ:TSRO) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Monday.
Other research analysts also recently issued reports about the company. Argus started coverage on TESARO in a research note on Friday, March 24th. They issued a “buy” rating and a $210.00 price objective on the stock. Citigroup Inc. reissued a “buy” rating and issued a $216.00 price objective (down from $232.00) on shares of TESARO in a research note on Saturday, April 22nd. Oppenheimer Holdings, Inc. set a $199.00 price objective on TESARO and gave the company a “buy” rating in a research note on Sunday, June 4th. Cann reissued a “buy” rating and issued a $199.00 price objective on shares of TESARO in a research note on Monday, June 5th. Finally, Credit Suisse Group set a $198.00 price objective on TESARO and gave the company a “buy” rating in a research note on Monday, June 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. TESARO currently has an average rating of “Buy” and a consensus target price of $173.74.
Shares of TESARO (NASDAQ:TSRO) traded down 4.25% during midday trading on Monday, hitting $120.81. The company’s stock had a trading volume of 1,247,071 shares. TESARO has a 1-year low of $83.26 and a 1-year high of $192.94. The company has a 50-day moving average price of $146.21 and a 200 day moving average price of $151.73. The company’s market cap is $6.51 billion.
TESARO (NASDAQ:TSRO) last announced its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($2.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.26) by $0.29. The business had revenue of $3.10 million during the quarter, compared to analyst estimates of $3.84 million. TESARO had a negative net margin of 910.35% and a negative return on equity of 96.49%. The firm’s revenue for the quarter was up 909.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.22) earnings per share. On average, equities research analysts predict that TESARO will post ($8.75) EPS for the current year.
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In other news, VP Edward C. English sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $138.65, for a total value of $1,178,525.00. Following the completion of the transaction, the vice president now directly owns 5,396 shares of the company’s stock, valued at $748,155.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 34.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in TSRO. Macquarie Group Ltd. raised its position in TESARO by 4.8% in the fourth quarter. Macquarie Group Ltd. now owns 301,510 shares of the biopharmaceutical company’s stock valued at $40,547,000 after buying an additional 13,830 shares in the last quarter. Shell Asset Management Co. raised its position in TESARO by 32.5% in the first quarter. Shell Asset Management Co. now owns 7,807 shares of the biopharmaceutical company’s stock valued at $1,201,000 after buying an additional 1,913 shares in the last quarter. Bellevue Group AG acquired a new position in TESARO during the first quarter valued at about $2,462,000. First Citizens Bank & Trust Co. acquired a new position in TESARO during the first quarter valued at about $288,000. Finally, First Trust Advisors LP acquired a new position in TESARO during the first quarter valued at about $3,993,000.
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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