TESARO (TSRO) Rating Lowered to Market Perform at Wells Fargo & Co

TESARO (NASDAQ:TSRO) was downgraded by Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a report released on Monday, The Fly reports.

A number of other equities research analysts have also recently issued reports on the stock. BidaskClub raised shares of TESARO from a “hold” rating to a “buy” rating in a research report on Friday, November 23rd. ValuEngine raised shares of TESARO from a “hold” rating to a “buy” rating in a research report on Tuesday, November 20th. Cantor Fitzgerald reissued a “buy” rating and issued a $68.00 target price on shares of TESARO in a research report on Monday, November 19th. Wedbush reissued an “outperform” rating on shares of TESARO in a research report on Tuesday, November 13th. Finally, Jefferies Financial Group reduced their target price on shares of TESARO from $38.00 to $25.00 and set a “hold” rating for the company in a research report on Monday, November 12th. Fourteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $78.18.

TSRO stock opened at $73.69 on Monday. The company has a debt-to-equity ratio of 3.74, a current ratio of 3.40 and a quick ratio of 2.83. TESARO has a one year low of $23.41 and a one year high of $87.03. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of -8.04 and a beta of 1.46.

TESARO (NASDAQ:TSRO) last released its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($2.49) EPS for the quarter, topping the Zacks’ consensus estimate of ($2.62) by $0.13. TESARO had a negative net margin of 295.67% and a negative return on equity of 1,209.72%. The firm had revenue of $64.40 million during the quarter, compared to analysts’ expectations of $71.84 million. During the same period in the previous year, the business posted ($0.47) earnings per share. The company’s revenue for the quarter was down 54.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that TESARO will post -10.93 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in TESARO by 1.5% in the third quarter. BlackRock Inc. now owns 4,285,890 shares of the biopharmaceutical company’s stock valued at $167,194,000 after purchasing an additional 64,579 shares in the last quarter. Vanguard Group Inc. raised its stake in TESARO by 3.6% in the third quarter. Vanguard Group Inc. now owns 3,336,421 shares of the biopharmaceutical company’s stock valued at $130,154,000 after purchasing an additional 116,337 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in TESARO by 77.9% in the third quarter. Frontier Capital Management Co. LLC now owns 3,139,778 shares of the biopharmaceutical company’s stock valued at $122,483,000 after purchasing an additional 1,375,361 shares in the last quarter. BB Biotech AG raised its stake in TESARO by 20.8% in the third quarter. BB Biotech AG now owns 2,931,802 shares of the biopharmaceutical company’s stock valued at $114,370,000 after purchasing an additional 505,000 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in TESARO by 27.8% in the third quarter. TIAA CREF Investment Management LLC now owns 1,372,970 shares of the biopharmaceutical company’s stock valued at $53,560,000 after purchasing an additional 298,457 shares in 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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