State of New Jersey Common Pension Fund D Invests $12 Million in Tesaro (TSRO)

State of New Jersey Common Pension Fund D purchased a new position in Tesaro (NASDAQ:TSRO) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 210,000 shares of the biopharmaceutical company’s stock, valued at approximately $11,999,000. State of New Jersey Common Pension Fund D owned about 0.38% of Tesaro at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Tesaro in the first quarter worth approximately $110,000. American International Group Inc. boosted its stake in shares of Tesaro by 138.8% in the first quarter. American International Group Inc. now owns 2,099 shares of the biopharmaceutical company’s stock worth $120,000 after acquiring an additional 1,220 shares during the last quarter. Exane Derivatives boosted its stake in shares of Tesaro by 137.1% in the fourth quarter. Exane Derivatives now owns 1,942 shares of the biopharmaceutical company’s stock worth $161,000 after acquiring an additional 1,123 shares during the last quarter. Bourgeon Capital Management LLC acquired a new stake in shares of Tesaro in the fourth quarter worth approximately $211,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Tesaro in the fourth quarter worth approximately $218,000.

NASDAQ:TSRO opened at $47.71 on Friday. Tesaro has a 52 week low of $44.76 and a 52 week high of $168.92. The company has a current ratio of 4.02, a quick ratio of 3.56 and a debt-to-equity ratio of 3.74. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of -5.20 and a beta of 1.32.

Tesaro (NASDAQ:TSRO) last posted its earnings results on Thursday, May 3rd. The biopharmaceutical company reported ($2.98) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.56) by ($0.42). Tesaro had a negative net margin of 193.42% and a negative return on equity of 177.92%. The business had revenue of $49.74 million during the quarter, compared to analysts’ expectations of $56.34 million. During the same quarter in the prior year, the firm earned ($2.55) EPS. Tesaro’s revenue for the quarter was up 1520.2% compared to the same quarter last year. research analysts predict that Tesaro will post -9.96 EPS for the current fiscal year.

A number of analysts have recently issued reports on the company. Citigroup lowered their price target on Tesaro from $102.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, May 4th. Bank of America lowered their price objective on Tesaro from $94.00 to $88.00 and set a “buy” rating on the stock in a research note on Friday, May 4th. Credit Suisse Group lowered their price objective on Tesaro from $141.00 to $128.00 and set an “outperform” rating on the stock in a research note on Friday, May 4th. Lake Street Capital reissued a “buy” rating and set a $80.00 price objective (down previously from $120.00) on shares of Tesaro in a research note on Monday, May 7th. Finally, BidaskClub raised Tesaro from a “strong sell” rating to a “sell” rating in a research note on Tuesday, March 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $119.00.

In related news, SVP Orlando Oliveira sold 3,000 shares of the business’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $69.88, for a total value of $209,640.00. Following the sale, the senior vice president now owns 9,076 shares in the company, valued at approximately $634,230.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David M. Mott acquired 61,437 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The stock was purchased at an average price of $58.83 per share, for a total transaction of $3,614,338.71. Following the acquisition, the director now directly owns 12,825 shares in the company, valued at approximately $754,494.75. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 334,913 shares of company stock worth $19,083,294 and sold 13,042 shares worth $760,526. 33.70% of the stock is owned by insiders.

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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Institutional Ownership by Quarter for Tesaro (NASDAQ:TSRO)

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