Tesaro (TSRO) Downgraded by BidaskClub to Strong Sell

BidaskClub cut shares of Tesaro (NASDAQ:TSRO) from a sell rating to a strong sell rating in a research report released on Friday morning.

TSRO has been the topic of several other research reports. Piper Jaffray reissued a hold rating and set a $65.00 price objective on shares of Tesaro in a research note on Thursday, January 18th. Wells Fargo reissued an outperform rating and set a $122.00 price objective (down previously from $224.00) on shares of Tesaro in a research note on Wednesday, February 28th. HC Wainwright reissued a buy rating and set a $108.00 price objective on shares of Tesaro in a research note on Tuesday, March 27th. Royal Bank of Canada cut their price target on shares of Tesaro to $48.00 and set a sector perform rating on the stock in a research note on Wednesday, February 28th. Finally, Zacks Investment Research downgraded shares of Tesaro from a hold rating to a sell rating in a research note on Thursday, January 11th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $129.26.

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Shares of TSRO traded down $0.63 on Friday, hitting $51.58. 641,252 shares of the stock traded hands, compared to its average volume of 957,145. The company has a debt-to-equity ratio of 1.75, a quick ratio of 4.39 and a current ratio of 4.74. The company has a market capitalization of $2,861.19, a price-to-earnings ratio of -5.62 and a beta of 1.34. Tesaro has a 1 year low of $50.67 and a 1 year high of $168.92.

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

In other Tesaro news, Director David M. Mott acquired 68,302 shares of the company’s stock in a transaction dated Friday, March 2nd. The stock was bought at an average price of $55.56 per share, with a total value of $3,794,859.12. Following the completion of the transaction, the director now directly owns 12,825 shares of the company’s stock, valued at $712,557. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Peter J. Barris acquired 145,532 shares of the company’s stock in a transaction dated Tuesday, March 6th. The stock was acquired 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 of the company’s stock, valued at $14,464.80. The disclosure for this purchase can be found here. In the last three months, insiders bought 334,913 shares of company stock valued at $19,083,294 and sold 13,042 shares valued at $760,526. 33.70% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Delek Group Ltd. acquired a new stake in shares of Tesaro in the fourth quarter worth $2,483,000. Iguana Healthcare Management LLC increased its position in shares of Tesaro by 40.0% in the fourth quarter. Iguana Healthcare Management LLC now owns 35,000 shares of the biopharmaceutical company’s stock worth $2,900,000 after acquiring an additional 10,000 shares in the last quarter. Element Capital Management LLC acquired a new stake in shares of Tesaro in the fourth quarter worth $16,302,000. Kazazian Asset Management LLC increased its position in shares of Tesaro by 48.8% in the fourth quarter. Kazazian Asset Management LLC now owns 7,806 shares of the biopharmaceutical company’s stock worth $647,000 after acquiring an additional 2,560 shares in the last quarter. Finally, Macquarie Group Ltd. increased its position in shares of Tesaro by 36.6% in the fourth quarter. Macquarie Group Ltd. now owns 115,354 shares of the biopharmaceutical company’s stock worth $9,559,000 after acquiring an additional 30,895 shares in the last quarter.

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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.

Analyst Recommendations for Tesaro (NASDAQ:TSRO)

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