TESARO (TSRO) Shares Down 5.6%

TESARO Inc (NASDAQ:TSRO) fell 5.6% on Thursday . The company traded as low as $38.49 and last traded at $38.65. 1,846,929 shares traded hands during trading, an increase of 17% from the average session volume of 1,578,376 shares. The stock had previously closed at $40.93.

A number of brokerages have weighed in on TSRO. ValuEngine upgraded TESARO from a “hold” rating to a “buy” rating in a research note on Friday. BidaskClub raised TESARO from a “hold” rating to a “buy” rating in a report on Friday, October 5th. Cantor Fitzgerald initiated coverage on TESARO in a report on Monday, October 1st. They set an “overweight” rating and a $57.00 target price on the stock. Leerink Swann initiated coverage on TESARO in a report on Monday, September 24th. They set an “outperform” rating and a $48.00 target price on the stock. Finally, Guggenheim initiated coverage on TESARO in a report on Monday, September 17th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $78.42.

The firm has a market capitalization of $2.14 billion, a PE ratio of -4.43 and a beta of 1.00. The company has a quick ratio of 3.64, a current ratio of 4.11 and a debt-to-equity ratio of -29.71.

TESARO (NASDAQ:TSRO) last announced its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($3.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.66) by ($0.38). The company had revenue of $57.21 million during the quarter, compared to the consensus estimate of $65.50 million. TESARO had a negative return on equity of 285.30% and a negative net margin of 180.29%. The company’s revenue for the quarter was up 94.2% on a year-over-year basis. During the same period last year, the business posted ($2.82) EPS. Sell-side analysts anticipate that TESARO Inc will post -11.12 earnings per share for the current year.

In related news, Director Arnold L. Oronsky sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $26.77, for a total value of $267,700.00. Following the sale, the director now owns 12,479 shares of the company’s stock, valued at approximately $334,062.83. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders sold 10,630 shares of company stock worth $290,424. Company insiders own 33.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Northern Trust Corp lifted its holdings in shares of TESARO by 4.6% in the 2nd quarter. Northern Trust Corp now owns 260,420 shares of the biopharmaceutical company’s stock worth $11,581,000 after purchasing an additional 11,565 shares during the last quarter. Nexthera Capital LP bought a new stake in TESARO during the 2nd quarter valued at $19,278,000. Platinum Investment Management Ltd. bought a new stake in TESARO during the 2nd quarter valued at $765,000. Acuta Capital Partners LLC raised its stake in TESARO by 100.0% during the 2nd quarter. Acuta Capital Partners LLC now owns 50,000 shares of the biopharmaceutical company’s stock valued at $2,224,000 after acquiring an additional 25,000 shares in the last quarter. Finally, Ivory Investment Management LLC raised its stake in TESARO by 19.9% during the 2nd quarter. Ivory Investment Management LLC now owns 30,254 shares of the biopharmaceutical company’s stock valued at $1,346,000 after acquiring an additional 5,019 shares in the last quarter.

TESARO Company Profile (NASDAQ:TSRO)

Tesaro, Inc, an oncology-focused biopharmaceutical company, identifies, acquires, develops, and commercializes cancer therapeutics and oncology supportive care products in the United States. It offers ZEJULA (niraparib), an orally active and potent poly polymerase inhibitor for the maintenance treatment of women with recurrent epithelial ovarian, fallopian tube, or primary peritoneal cancer; and VARUBI (rolapitant), a neurokinin-1, or NK-1, receptor antagonist for the prevention of chemotherapy induced nausea and vomiting.

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