TESARO (TSRO) Stock Price Down 8.7% After Analyst Downgrade

TESARO Inc (NASDAQ:TSRO) was down 8.7% during mid-day trading on Wednesday after Cowen lowered their price target on the stock from $125.00 to $80.00. Cowen currently has a market perform rating on the stock. TESARO traded as low as $74.57 and last traded at $75.62. Approximately 2,281,500 shares changed hands during trading, an increase of 65% from the average daily volume of 1,384,050 shares. The stock had previously closed at $82.87.

Several other brokerages have also commented on TSRO. Citigroup reiterated a “buy” rating and set a $216.00 price target on shares of TESARO in a research note on Monday, September 11th. Jefferies Group reiterated a “hold” rating and set a $124.00 price target on shares of TESARO in a research note on Friday, November 3rd. HC Wainwright reiterated a “buy” rating on shares of TESARO in a research note on Wednesday, November 8th. Lake Street Capital reiterated a “buy” rating and set a $143.00 price target on shares of TESARO in a research note on Thursday, November 9th. Finally, Argus set a $154.00 price target on shares of TESARO and gave the stock a “buy” rating in a research note on Tuesday, November 28th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $152.64.

In other TESARO news, SVP Martin H. Jr. Huber sold 829 shares of TESARO stock in a transaction on Monday, December 4th. The shares were 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 in the company, valued at $690,529.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 40.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hanseatic Management Services Inc. increased its stake in TESARO by 0.3% in the second quarter. Hanseatic Management Services Inc. now owns 5,936 shares of the biopharmaceutical company’s stock valued at $830,000 after purchasing an additional 15 shares during the period. Stephens Inc. AR increased its stake in TESARO by 6.5% in the second quarter. Stephens Inc. AR now owns 1,874 shares of the biopharmaceutical company’s stock valued at $262,000 after purchasing an additional 115 shares during the period. Cornerstone Capital Management Holdings LLC. increased its stake in TESARO by 1.1% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 12,092 shares of the biopharmaceutical company’s stock valued at $1,690,000 after purchasing an additional 136 shares during the period. KBC Group NV increased its stake in shares of TESARO by 10.9% during the third quarter. KBC Group NV now owns 5,606 shares of the biopharmaceutical company’s stock worth $724,000 after acquiring an additional 553 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of TESARO by 1.2% during the third quarter. State Board of Administration of Florida Retirement System now owns 49,054 shares of the biopharmaceutical company’s stock worth $6,333,000 after acquiring an additional 570 shares during the period.

The company has a debt-to-equity ratio of 0.34, a current ratio of 4.73 and a quick ratio of 4.35. The stock has a market capitalization of $4,290.00, a P/E ratio of -9.35 and a beta of 1.51.

TESARO (NASDAQ:TSRO) last issued its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.69. TESARO had a negative net margin of 251.22% and a negative return on equity of 93.39%. The business had revenue of $142.77 million for the quarter, compared to analyst estimates of $130.57 million. During the same period in the previous year, the business posted ($1.72) earnings per share. The business’s revenue was up 740.3% compared to the same quarter last year. sell-side analysts expect that TESARO Inc will post -8.18 earnings per share for the current fiscal year.

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About TESARO

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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