TESARO, Inc. (TSRO) Holdings Trimmed by Franklin Resources Inc.
Franklin Resources Inc. cut its stake in shares of TESARO, Inc. (NASDAQ:TSRO) by 23.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,875,422 shares of the biopharmaceutical company’s stock after selling 563,191 shares during the period. Franklin Resources Inc. owned about 3.48% of TESARO worth $262,301,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of TESARO during the 2nd quarter valued at $990,000. Sphera Funds Management LTD. purchased a new stake in shares of TESARO during the 2nd quarter valued at $7,692,000. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of TESARO during the 2nd quarter valued at $867,000. Oppenheimer Asset Management Inc. increased its position in shares of TESARO by 3,042.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,477 shares of the biopharmaceutical company’s stock valued at $206,000 after purchasing an additional 1,430 shares during the last quarter. Finally, Westpac Banking Corp purchased a new stake in shares of TESARO during the 2nd quarter valued at $599,000.
In other TESARO 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 sale, the vice president now 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 90 days, insiders sold 25,100 shares of company stock valued at $3,387,465. Company insiders own 40.50% of the company’s stock.
TESARO, Inc. (NASDAQ:TSRO) opened at 120.32 on Friday. The company’s market cap is $6.52 billion. TESARO, Inc. has a 52 week low of $90.56 and a 52 week high of $192.94. The firm has a 50-day moving average price of $123.53 and a 200 day moving average price of $142.96.
TESARO (NASDAQ:TSRO) last posted its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($2.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.52) by $0.30. The firm had revenue of $29.50 million during 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 firm’s revenue was down 17.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.28) EPS. Analysts expect that TESARO, Inc. will post ($8.67) EPS for the current fiscal year.
Several equities research analysts have recently issued reports on TSRO shares. Credit Suisse Group set a $198.00 target price on TESARO and gave the company a “buy” rating in a research report on Wednesday, July 19th. Leerink Swann decreased their target price on TESARO from $164.00 to $143.00 and set a “market perform” rating for the company in a research report on Tuesday, June 20th. ValuEngine lowered TESARO from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Gabelli started coverage on TESARO in a research report on Friday, July 7th. They set a “buy” rating and a $175.00 target price for the company. Finally, BidaskClub lowered TESARO from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. TESARO currently has an average rating of “Buy” and a consensus price target of $175.52.
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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