Century Capital Management LLC lowered its holdings in shares of TESARO, Inc. (NASDAQ:TSRO) by 47.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,844 shares of the biopharmaceutical company’s stock after selling 4,363 shares during the quarter. Century Capital Management LLC’s holdings in TESARO were worth $677,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Bellevue Group AG purchased a new position in TESARO during the first quarter worth approximately $2,462,000. Tobam purchased a new position in TESARO during the second quarter worth approximately $20,189,000. First Trust Advisors LP purchased a new position in TESARO during the first quarter worth approximately $3,993,000. EAM Investors LLC boosted its position in TESARO by 5.3% during the first quarter. EAM Investors LLC now owns 22,871 shares of the biopharmaceutical company’s stock worth $3,519,000 after purchasing an additional 1,142 shares in the last quarter. Finally, Trellus Management Company LLC boosted its position in TESARO by 12.3% during the second quarter. Trellus Management Company LLC now owns 8,419 shares of the biopharmaceutical company’s stock worth $1,177,000 after purchasing an additional 919 shares in the last quarter.
A number of equities analysts have issued reports on the company. BidaskClub downgraded TESARO from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. Robert W. Baird restated a “neutral” rating on shares of TESARO in a research report on Tuesday, June 6th. Bank of America Corporation restated a “buy” rating and issued a $154.00 target price on shares of TESARO in a research report on Tuesday, June 20th. Wedbush restated an “outperform” rating and issued a $160.00 target price on shares of TESARO in a research report on Monday. Finally, ValuEngine downgraded TESARO from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $175.15.
In related news, VP Edward C. English sold 10,862 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now owns 6,258 shares of the company’s stock, valued at approximately $844,329.36. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Grant C. Bogle sold 14,167 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $135.00, for a total value of $1,912,545.00. 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. 34.60% of the stock is owned by corporate insiders.
Shares of TESARO, Inc. (TSRO) opened at 118.22 on Wednesday. The firm’s market cap is $6.41 billion. The company has a 50 day moving average price of $123.15 and a 200 day moving average price of $141.79. TESARO, Inc. has a 12-month low of $91.76 and a 12-month high of $192.94.
TESARO (NASDAQ:TSRO) last posted its 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 net margin of 1,301.19% and a negative return on equity of 104.00%. The company 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 company posted ($1.28) EPS. TESARO’s quarterly revenue was down 17.6% compared to the same quarter last year. On average, analysts forecast that TESARO, Inc. will post ($8.67) earnings per share for the current fiscal year.
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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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