TESARO (TSRO) Hits New 1-Year Low on Analyst Downgrade

TESARO Inc (NASDAQ:TSRO) shares reached a new 52-week low on Wednesday after Morgan Stanley lowered their price target on the stock from $165.00 to $156.00. Morgan Stanley currently has an overweight rating on the stock. TESARO traded as low as $62.66 and last traded at $65.52, with a volume of 3274200 shares traded. The stock had previously closed at $69.59.

A number of other research analysts also recently weighed in on the company. Citigroup reiterated a “buy” rating and set a $135.00 target price (down previously from $216.00) on shares of TESARO in a report on Wednesday, December 20th. Zacks Investment Research downgraded TESARO from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Cowen reduced their target price on TESARO from $125.00 to $80.00 and set a “market perform” rating on the stock in a report on Tuesday, January 2nd. HC Wainwright reiterated a “buy” rating and set a $158.00 target price on shares of TESARO in a report on Thursday, October 26th. Finally, Cann reiterated a “buy” rating and set a $199.00 target price on shares of TESARO in a report on Tuesday, November 7th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $149.97.

In related news, SVP Martin H. Jr. Huber sold 829 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $85.24, for a total value of $70,663.96. Following the transaction, the senior vice president now directly owns 8,101 shares of the company’s stock, valued at approximately $690,529.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 40.50% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. bought a new position in shares of TESARO during the 4th quarter valued at $218,000. Creative Planning lifted its holdings in shares of TESARO by 23.1% during the 4th quarter. Creative Planning now owns 50,209 shares of the biopharmaceutical company’s stock valued at $4,161,000 after buying an additional 9,432 shares during the period. Gateway Investment Advisers LLC lifted its holdings in shares of TESARO by 30.2% during the 4th quarter. Gateway Investment Advisers LLC now owns 25,937 shares of the biopharmaceutical company’s stock valued at $2,149,000 after buying an additional 6,016 shares during the period. Bank of Montreal Can lifted its holdings in shares of TESARO by 27.2% during the 4th quarter. Bank of Montreal Can now owns 9,103 shares of the biopharmaceutical company’s stock valued at $754,000 after buying an additional 1,948 shares during the period. Finally, AXA lifted its holdings in shares of TESARO by 89.3% during the 3rd quarter. AXA now owns 121,449 shares of the biopharmaceutical company’s stock valued at $15,679,000 after buying an additional 57,300 shares during the period.

The stock has a market cap of $3,450.00, a price-to-earnings ratio of -7.53 and a beta of 1.51. The company has a current ratio of 4.73, a quick ratio of 4.35 and a debt-to-equity ratio of 0.34.

TESARO (NASDAQ:TSRO) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($1.16) by $0.69. The firm had revenue of $142.77 million for 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 company’s revenue was up 740.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.72) EPS. research analysts expect that TESARO Inc will post -8.19 EPS 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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