State of Wisconsin Investment Board Invests $7.80 Million in TESARO, Inc. (TSRO)
State of Wisconsin Investment Board purchased a new stake in shares of TESARO, Inc. (NASDAQ:TSRO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 55,780 shares of the biopharmaceutical company’s stock, valued at approximately $7,801,000. State of Wisconsin Investment Board owned 0.10% of TESARO at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in TSRO. Vident Investment Advisory LLC purchased a new position in shares of TESARO during the first quarter valued at about $351,000. Meeder Asset Management Inc. bought a new position in shares of TESARO during the first quarter worth $177,000. Fox Run Management L.L.C. bought a new position in shares of TESARO during the second quarter worth $224,000. World Asset Management Inc bought a new position in shares of TESARO during the second quarter worth $227,000. Finally, Private Capital Advisors Inc. bought a new position in shares of TESARO during the second quarter worth $232,000.
Shares of TESARO, Inc. (NASDAQ TSRO) opened at 126.37 on Monday. The firm’s market cap is $6.85 billion. TESARO, Inc. has a 52-week low of $83.26 and a 52-week high of $192.94. The company’s 50 day moving average is $123.96 and its 200 day moving average is $146.46.
TESARO (NASDAQ:TSRO) last released its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($2.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.52) by $0.30. The company had revenue of $29.50 million for the quarter, compared to the consensus estimate of $18.61 million. TESARO had a negative net margin of 1,301.19% and a negative return on equity of 104.00%. The company’s quarterly revenue was down 17.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.28) EPS. Analysts anticipate that TESARO, Inc. will post ($8.67) earnings per share for the current year.
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Several brokerages have commented on TSRO. Janney Montgomery Scott set a $139.00 price target on shares of TESARO and gave the stock a “hold” rating in a research report on Saturday, June 10th. Cowen and Company set a $145.00 target price on shares of TESARO and gave the company a “hold” rating in a report on Saturday, June 10th. Jefferies Group LLC set a $124.00 price target on shares of TESARO and gave the company a “hold” rating in a research note on Thursday, August 17th. Credit Suisse Group set a $190.00 price target on shares of TESARO and gave the company a “buy” rating in a research note on Friday, August 18th. Finally, Robert W. Baird reiterated a “neutral” rating on shares of TESARO in a research note on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $175.52.
In other news, VP Edward C. English sold 8,500 shares of TESARO stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $138.65, for a total transaction of $1,178,525.00. Following the sale, the vice president now owns 5,396 shares in the company, valued at $748,155.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 34.60% of the company’s stock.
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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