Tesaro (TSRO) Sees Strong Trading Volume

Shares of Tesaro (NASDAQ:TSRO) saw strong trading volume on Tuesday . 4,306,547 shares were traded during mid-day trading, an increase of 267% from the previous session’s volume of 1,173,712 shares.The stock last traded at $49.46 and had previously closed at $47.24.

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

The stock has a market capitalization of $2.71 billion, a PE ratio of -5.30 and a beta of 1.32. The company has a current ratio of 4.02, a quick ratio of 3.56 and a debt-to-equity ratio of 3.74.

Tesaro (NASDAQ:TSRO) last released its quarterly earnings data on Thursday, May 3rd. The biopharmaceutical company reported ($2.98) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($2.56) by ($0.42). The company had revenue of $49.74 million for the quarter, compared to the consensus estimate of $56.34 million. Tesaro had a negative return on equity of 177.92% and a negative net margin of 193.42%. Tesaro’s revenue for the quarter was up 1520.2% compared to the same quarter last year. During the same period last year, the company earned ($2.55) EPS. equities analysts anticipate that Tesaro will post -9.96 earnings per share for the current year.

In related news, CFO Timothy R. Pearson sold 2,575 shares of the company’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $54.86, for a total value of $141,264.50. Following the sale, the chief financial officer now owns 7,303 shares in the company, valued at approximately $400,642.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Grant C. Bogle sold 1,809 shares of the company’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $54.85, for a total transaction of $99,223.65. The disclosure for this sale can be found here. In the last three months, 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 corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of TSRO. TimesSquare Capital Management LLC raised its holdings in shares of Tesaro by 226.1% in the 4th quarter. TimesSquare Capital Management LLC now owns 856,600 shares of the biopharmaceutical company’s stock worth $70,986,000 after acquiring an additional 593,924 shares during the last quarter. BB Biotech AG increased its stake in Tesaro by 55.8% in the 1st quarter. BB Biotech AG now owns 1,629,743 shares of the biopharmaceutical company’s stock valued at $93,124,000 after buying an additional 583,550 shares during the last quarter. Renaissance Technologies LLC increased its stake in Tesaro by 482.1% in the 4th quarter. Renaissance Technologies LLC now owns 357,400 shares of the biopharmaceutical company’s stock valued at $29,618,000 after buying an additional 296,000 shares during the last quarter. Frontier Capital Management Co. LLC purchased a new stake in Tesaro in the 1st quarter valued at about $13,843,000. Finally, BlackRock Inc. increased its stake in Tesaro by 5.6% in the 4th quarter. BlackRock Inc. now owns 4,067,066 shares of the biopharmaceutical company’s stock valued at $337,039,000 after buying an additional 213,920 shares during the last quarter.

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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