TESARO (TSRO) Hits New 1-Year Low at $23.41

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Shares of TESARO Inc (NASDAQ:TSRO) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $23.41 and last traded at $25.10, with a volume of 3869227 shares changing hands. The stock had previously closed at $30.91.

A number of analysts have issued reports on TSRO shares. Zacks Investment Research raised TESARO from a “sell” rating to a “hold” rating in a report on Tuesday, July 17th. HC Wainwright lowered their target price on TESARO to $71.00 and set a “buy” rating on the stock in a report on Friday, July 20th. ValuEngine lowered TESARO from a “hold” rating to a “sell” rating in a report on Saturday, July 28th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $38.00 target price on shares of TESARO in a report on Friday, August 3rd. Finally, Royal Bank of Canada lowered their target price on TESARO to $38.00 and set a “sector perform” rating on the stock in a report on Friday, August 3rd. Nine research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $78.00.

The company has a quick ratio of 3.64, a current ratio of 3.40 and a debt-to-equity ratio of 3.74. The stock has a market capitalization of $1.62 billion, a P/E ratio of -2.74 and a beta of 1.35.

TESARO (NASDAQ:TSRO) last announced 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 return on equity of 1,209.72% and a negative net margin of 295.67%. The company had revenue of $64.40 million during the quarter, compared to the consensus estimate of $71.84 million. During the same quarter last year, the company earned ($0.47) EPS. The company’s quarterly revenue was down 54.9% on a year-over-year basis. On average, equities analysts expect that TESARO Inc will post -10.97 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in TSRO. Russell Investments Group Ltd. lifted its position in shares of TESARO by 54.1% in the 1st quarter. Russell Investments Group Ltd. now owns 8,498 shares of the biopharmaceutical company’s stock worth $485,000 after acquiring an additional 2,985 shares during the period. Legal & General Group Plc lifted its position in shares of TESARO by 17.5% during the 1st quarter. Legal & General Group Plc now owns 43,656 shares of the biopharmaceutical company’s stock worth $2,495,000 after buying an additional 6,517 shares during the period. Xact Kapitalforvaltning AB lifted its position in shares of TESARO by 86.8% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 6,700 shares of the biopharmaceutical company’s stock worth $298,000 after buying an additional 3,113 shares during the period. Essex Investment Management Co. LLC bought a new position in shares of TESARO during the 2nd quarter worth approximately $733,000. Finally, Fred Alger Management Inc. lifted its position in shares of TESARO by 66.6% during the 2nd quarter. Fred Alger Management Inc. now owns 77,870 shares of the biopharmaceutical company’s stock worth $3,463,000 after buying an additional 31,122 shares during the period.

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TESARO Company Profile (NASDAQ:TSRO)

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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