Tesaro (TSRO) Trading Up 6.2%

Tesaro (NASDAQ:TSRO) was up 6.2% during trading on Monday . The stock traded as high as $57.99 and last traded at $55.51. Approximately 1,596,660 shares were traded during trading, an increase of 37% from the average daily volume of 1,167,780 shares. The stock had previously closed at $52.26.

Several equities research analysts recently commented on TSRO shares. Morgan Stanley dropped their price objective on Tesaro from $165.00 to $156.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 16th. BidaskClub raised Tesaro from a “strong sell” rating to a “sell” rating in a research report on Tuesday, March 6th. Credit Suisse Group reaffirmed an “in-line” rating and set a $141.00 price objective (down from $150.00) on shares of Tesaro in a research report on Wednesday, February 28th. HC Wainwright reaffirmed a “buy” rating and set a $158.00 price objective on shares of Tesaro in a research report on Friday, January 12th. Finally, Citigroup reaffirmed a “buy” rating and set a $135.00 price objective (down from $216.00) on shares of Tesaro in a research report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $129.26.

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The stock has a market capitalization of $3,042.04, a PE ratio of -5.99 and a beta of 1.34. The company has a quick ratio of 4.39, a current ratio of 4.74 and a debt-to-equity ratio of 1.75.

Tesaro (NASDAQ:TSRO) last posted its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($3.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($2.39) by ($0.96). Tesaro had a negative net margin of 222.15% and a negative return on equity of 126.44%. The company had revenue of $48.02 million for the quarter, compared to analysts’ expectations of $51.78 million. analysts anticipate that Tesaro will post -9.53 EPS for the current fiscal year.

In related news, major shareholder Peter J. Barris acquired 145,532 shares of the stock in a transaction dated Tuesday, March 6th. The shares were purchased at an average cost of $57.40 per share, with a total value of $8,353,536.80. Following the transaction, the insider now directly owns 252 shares in the company, valued at $14,464.80. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Grant C. Bogle sold 1,809 shares of Tesaro stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $54.85, for a total value of $99,223.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 334,913 shares of company stock worth $19,083,294 and have sold 13,042 shares worth $760,526. 33.70% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of TSRO. Exane Derivatives lifted its position in shares of Tesaro by 137.1% during the 4th quarter. Exane Derivatives now owns 1,942 shares of the biopharmaceutical company’s stock valued at $161,000 after buying an additional 1,123 shares in the last quarter. Bourgeon Capital Management LLC purchased a new position in shares of Tesaro during the 4th quarter valued at about $211,000. Fox Run Management L.L.C. purchased a new position in shares of Tesaro during the 4th quarter valued at about $218,000. State of Alaska Department of Revenue purchased a new position in shares of Tesaro during the 4th quarter valued at about $223,000. Finally, Two Sigma Securities LLC purchased a new position in shares of Tesaro during the 4th quarter valued at about $255,000.

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Tesaro Company Profile

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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