Sphera Funds Management LTD. Acquires Shares of 55,000 TESARO, Inc. (NASDAQ:TSRO)

Sphera Funds Management LTD. acquired a new position in shares of TESARO, Inc. (NASDAQ:TSRO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 55,000 shares of the biopharmaceutical company’s stock, valued at approximately $7,692,000. TESARO accounts for 1.3% of Sphera Funds Management LTD.’s investment portfolio, making the stock its 14th biggest holding. Sphera Funds Management LTD. owned about 0.10% of TESARO at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. FMR LLC boosted its position in TESARO by 0.4% during the first quarter. FMR LLC now owns 8,043,921 shares of the biopharmaceutical company’s stock worth $1,237,718,000 after purchasing an additional 32,918 shares during the period. BlackRock Inc. boosted its position in TESARO by 4,504.8% during the first quarter. BlackRock Inc. now owns 3,409,657 shares of the biopharmaceutical company’s stock worth $524,643,000 after purchasing an additional 3,335,611 shares during the period. Vanguard Group Inc. boosted its position in TESARO by 3.7% during the first quarter. Vanguard Group Inc. now owns 2,916,132 shares of the biopharmaceutical company’s stock worth $448,705,000 after purchasing an additional 103,759 shares during the period. State Street Corp boosted its position in TESARO by 0.4% during the first quarter. State Street Corp now owns 991,856 shares of the biopharmaceutical company’s stock worth $152,617,000 after purchasing an additional 3,784 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in TESARO by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 703,774 shares of the biopharmaceutical company’s stock worth $98,430,000 after purchasing an additional 28,177 shares during the period.

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In other TESARO news, VP Grant C. Bogle sold 14,167 shares of the firm’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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Edward C. English sold 10,862 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $134.92, for a total value of $1,465,501.04. Following the transaction, the vice president now directly owns 6,258 shares in the company, valued at $844,329.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,100 shares of company stock worth $3,387,465. Insiders own 40.50% of the company’s stock.

A number of research firms have commented on TSRO. Royal Bank Of Canada started coverage on shares of TESARO in a research report on Thursday. They set a “sector perform” rating and a $120.00 price objective for the company. Wedbush reissued an “outperform” rating and set a $160.00 target price on shares of TESARO in a report on Monday, September 11th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $199.00 target price on shares of TESARO in a report on Sunday, September 10th. Citigroup Inc. reissued a “buy” rating and set a $216.00 target price on shares of TESARO in a report on Monday, September 11th. Finally, Cann reissued a “buy” rating and set a $199.00 target price on shares of TESARO in a report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $171.42.

TESARO, Inc. (NASDAQ TSRO) opened at 117.16 on Friday. The firm’s market cap is $6.35 billion. The firm’s 50-day moving average price is $121.74 and its 200 day moving average price is $140.42. TESARO, Inc. has a 52 week low of $96.52 and a 52 week high of $192.94.

TESARO (NASDAQ:TSRO) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($2.82) earnings per share for the quarter, missing the consensus estimate of ($2.52) by ($0.30). TESARO had a negative net margin of 1,301.19% and a negative return on equity of 104.00%. The business had revenue of $29.50 million during the quarter, compared to analysts’ expectations of $18.61 million. During the same period in the previous year, the business earned ($1.28) EPS. The business’s revenue was down 17.6% on a year-over-year basis. Equities analysts forecast that TESARO, Inc. will post ($8.67) earnings per share for the current fiscal year.

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.

Institutional Ownership by Quarter for TESARO (NASDAQ:TSRO)

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