TESARO (TSRO) Shares Up 6.5%

Shares of TESARO Inc (NASDAQ:TSRO) shot up 6.5% during trading on Friday . The company traded as high as $51.79 and last traded at $51.76. 1,300,700 shares were traded during mid-day trading, an increase of 11% from the average session volume of 1,175,740 shares. The stock had previously closed at $48.58.

A number of research firms recently commented on TSRO. Citigroup lowered their target price on shares of TESARO from $102.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, May 4th. BidaskClub raised shares of TESARO from a “strong sell” rating to a “sell” rating in a research report on Tuesday, March 6th. Credit Suisse Group reduced their price target on shares of TESARO from $141.00 to $128.00 and set an “outperform” rating for the company in a research report on Friday, May 4th. Bank of America reduced their price target on shares of TESARO from $94.00 to $88.00 and set a “buy” rating for the company in a research report on Friday, May 4th. Finally, Lake Street Capital reissued a “buy” rating and set a $80.00 price target (down from $120.00) on shares of TESARO in a research report on Monday, May 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company. TESARO presently has an average rating of “Buy” and a consensus price target of $119.00.

The company has a quick ratio of 3.56, a current ratio of 4.02 and a debt-to-equity ratio of 3.74.

TESARO (NASDAQ:TSRO) last posted its earnings results on Thursday, May 3rd. The biopharmaceutical company reported ($2.98) earnings per share for the quarter, missing the consensus estimate of ($2.56) by ($0.42). The firm had revenue of $49.74 million for the quarter, compared to analysts’ expectations of $56.34 million. TESARO had a negative net margin of 193.42% and a negative return on equity of 177.92%. TESARO’s revenue for the quarter was up 1520.2% compared to the same quarter last year. During the same period last year, the firm earned ($2.55) earnings per share. equities analysts expect that TESARO Inc will post -9.96 earnings per share for the current year.

In related news, SVP Martin H. Jr. Huber sold 1,803 shares of TESARO stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $54.86, for a total value of $98,912.58. Following the sale, the senior vice president now owns 11,647 shares of the company’s stock, valued at approximately $638,954.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Orlando Oliveira sold 3,000 shares of TESARO stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $69.88, for a total transaction of $209,640.00. Following the completion of the sale, the senior vice president now directly owns 9,076 shares in the company, valued at approximately $634,230.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 334,913 shares of company stock valued at $19,083,294 and have sold 13,042 shares valued at $760,526. 33.70% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC grew its stake in TESARO by 0.8% in the 1st quarter. Neuberger Berman Group LLC now owns 149,157 shares of the biopharmaceutical company’s stock valued at $8,523,000 after acquiring an additional 1,117 shares during the period. Exane Derivatives boosted its stake in TESARO by 137.1% during the 4th quarter. Exane Derivatives now owns 1,942 shares of the biopharmaceutical company’s stock worth $161,000 after purchasing an additional 1,123 shares during the last quarter. Aperio Group LLC boosted its stake in TESARO by 29.9% during the 4th quarter. Aperio Group LLC now owns 4,922 shares of the biopharmaceutical company’s stock worth $408,000 after purchasing an additional 1,132 shares during the last quarter. American International Group Inc. boosted its stake in TESARO by 138.8% during the 1st quarter. American International Group Inc. now owns 2,099 shares of the biopharmaceutical company’s stock worth $120,000 after purchasing an additional 1,220 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in TESARO by 2.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 52,405 shares of the biopharmaceutical company’s stock worth $2,994,000 after purchasing an additional 1,287 shares during the last quarter.

About TESARO

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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