ValuEngine Downgrades TESARO, Inc. (TSRO) to Sell
TESARO, Inc. (NASDAQ:TSRO) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
A number of other equities analysts also recently issued reports on the company. Credit Suisse Group set a $198.00 price target on TESARO and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Leerink Swann dropped their price target on TESARO from $164.00 to $143.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 20th. Gabelli initiated coverage on TESARO in a research report on Friday, July 7th. They set a “buy” rating and a $175.00 price target on the stock. Cann reaffirmed a “buy” rating and set a $199.00 price objective on shares of TESARO in a research report on Friday, September 8th. Finally, BidaskClub downgraded TESARO from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. TESARO presently has a consensus rating of “Buy” and a consensus target price of $170.74.
TESARO (NASDAQ TSRO) opened at 119.11 on Tuesday. The stock’s market cap is $6.45 billion. The firm’s 50-day moving average price is $122.36 and its 200 day moving average price is $134.80. TESARO has a 12 month low of $96.52 and a 12 month high of $192.94.
TESARO (NASDAQ:TSRO) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.52) by ($0.30). TESARO had a negative return on equity of 104.00% and a negative net margin of 1,301.19%. The firm had revenue of $29.50 million for the quarter, compared to the consensus estimate of $18.61 million. During the same period in the previous year, the company posted ($1.28) EPS. TESARO’s quarterly revenue was down 17.6% compared to the same quarter last year. On average, analysts anticipate that TESARO will post ($8.63) earnings per share for the current year.
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In other TESARO news, Director James O. Armitage sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $117.13, for a total value of $1,171,300.00. Following the sale, the director now directly owns 10,000 shares of the company’s stock, valued at $1,171,300. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Martin H. Jr. Huber sold 592 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $118.60, for a total value of $70,211.20. Following the completion of the sale, the senior vice president now directly owns 6,943 shares in the company, valued at $823,439.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,692 shares of company stock worth $4,628,976. 34.60% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Tobam acquired a new stake in TESARO in the second quarter valued at approximately $20,189,000. Sphera Funds Management LTD. acquired a new stake in TESARO in the second quarter valued at approximately $7,692,000. Trellus Management Company LLC grew its holdings in TESARO by 12.3% in the second quarter. Trellus Management Company LLC now owns 8,419 shares of the biopharmaceutical company’s stock valued at $1,177,000 after purchasing an additional 919 shares during the period. Fiera Capital Corp acquired a new stake in TESARO in the second quarter valued at approximately $18,451,000. Finally, Swiss National Bank grew its holdings in TESARO by 122.5% in the second quarter. Swiss National Bank now owns 137,000 shares of the biopharmaceutical company’s stock valued at $19,161,000 after purchasing an additional 75,422 shares during the period.
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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