Morgan Stanley reaffirmed their overweight rating on shares of TESARO, Inc. (NASDAQ:TSRO) in a research report report published on Wednesday. They currently have a $165.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $181.00.
TSRO has been the subject of several other research reports. BidaskClub cut TESARO from a sell rating to a strong sell rating in a research note on Wednesday, July 19th. Wedbush reaffirmed an outperform rating and set a $160.00 price target on shares of TESARO in a research report on Monday, September 11th. ValuEngine lowered TESARO from a hold rating to a sell rating in a research report on Monday, July 17th. Barclays PLC assumed coverage on TESARO in a research report on Monday, October 23rd. They set an equal weight rating and a $135.00 price target on the stock. Finally, Zacks Investment Research raised TESARO from a sell rating to a hold rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Hold and an average target price of $161.72.
TESARO (NASDAQ:TSRO) traded up $0.08 during mid-day trading on Wednesday, reaching $91.09. The company had a trading volume of 1,062,200 shares, compared to its average volume of 950,236. TESARO has a 12-month low of $89.00 and a 12-month high of $192.94. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.73 and a quick ratio of 5.41.
TESARO (NASDAQ:TSRO) last posted its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($1.16) by $0.69. The firm had revenue of $142.77 million during the quarter, compared to analysts’ expectations of $130.57 million. TESARO had a negative return on equity of 93.39% and a negative net margin of 251.22%. The firm’s revenue was up 740.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.72) earnings per share. sell-side analysts anticipate that TESARO will post -8.18 earnings per share for the current fiscal year.
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In other TESARO news, VP Grant C. Bogle sold 14,167 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $135.00, for a total transaction of $1,912,545.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Martin H. Jr. Huber sold 592 shares of the business’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $118.60, for a total value of $70,211.20. Following the sale, the senior vice president now owns 6,943 shares in the company, valued at $823,439.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,692 shares of company stock worth $4,628,976. 40.50% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Tobam acquired a new position in TESARO in the second quarter valued at $20,189,000. Sphera Funds Management LTD. acquired a new position in TESARO in the second quarter valued at $7,692,000. Trellus Management Company LLC increased its stake 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 last quarter. Fiera Capital Corp acquired a new position in TESARO in the second quarter valued at $18,451,000. Finally, Westpac Banking Corp acquired a new position in TESARO in the second quarter valued at $599,000.
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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