TESARO, Inc. (NASDAQ:TSRO) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of TESARO, Inc. (NASDAQ:TSRO) from a hold rating to a sell rating in a report issued on Tuesday, October 17th.

According to Zacks, “Tesaro, Inc. is an oncology-focused biopharmaceutical company for cancer patients. The Company’s product portfolio consists of Rolapitant, a neurokinin-1 receptor antagonist for the prevention of chemotherapy induced nausea and vomiting, TSR-011, an orally available anaplastic lymphoma kinase inhibitor for the treatment of non-small cell lung cancer and other cancer indications, and Niraparib, an orally active and potent poly (ADP-ribose) polymerase inhibitor for the treatment of patients with solid tumors. Tesaro, Inc. is based in Waltham, Massachusetts. “

A number of other research analysts also recently issued reports on the company. ValuEngine upgraded TESARO from a sell rating to a hold rating in a report on Tuesday, August 1st. Gabelli assumed coverage on TESARO in a research report on Friday, July 7th. They issued a buy rating and a $175.00 price objective for the company. Credit Suisse Group set a $198.00 price objective on TESARO and gave the stock a buy rating in a research report on Wednesday, July 19th. Oppenheimer Holdings, Inc. reissued a buy rating and issued a $199.00 price objective on shares of TESARO in a research report on Sunday, September 10th. Finally, BidaskClub raised TESARO from a strong sell rating to a sell rating in a research report on Wednesday, August 23rd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. TESARO currently has a consensus rating of Hold and an average target price of $166.10.

TESARO (TSRO) traded up $1.59 on Tuesday, reaching $112.50. The company’s stock had a trading volume of 375,943 shares, compared to its average volume of 549,272. TESARO has a one year low of $106.64 and a one year high of $192.94. The company has a current ratio of 5.69, a quick ratio of 5.41 and a debt-to-equity ratio of 0.34.

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In related news, VP Grant C. Bogle sold 14,167 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $135.00, for a total value of $1,912,545.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James O. Armitage sold 10,000 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $117.13, for a total value of $1,171,300.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $1,171,300. The disclosure for this sale can be found here. Insiders sold 35,692 shares of company stock worth $4,628,976 in the last three months. 34.60% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of TSRO. BlackRock Inc. grew its holdings in shares of TESARO by 4,504.8% during the first quarter. BlackRock Inc. now owns 3,409,657 shares of the biopharmaceutical company’s stock worth $524,643,000 after purchasing an additional 3,335,611 shares during the last quarter. Janus Henderson Group PLC purchased a new position in shares of TESARO during the second quarter worth about $100,301,000. PointState Capital LP purchased a new position in shares of TESARO during the second quarter worth about $85,971,000. Pictet Asset Management Ltd. grew its holdings in shares of TESARO by 58.1% during the third quarter. Pictet Asset Management Ltd. now owns 630,904 shares of the biopharmaceutical company’s stock worth $81,450,000 after purchasing an additional 231,799 shares during the last quarter. Finally, Pioneer Investment Management Inc. grew its holdings in shares of TESARO by 195.6% during the second quarter. Pioneer Investment Management Inc. now owns 317,753 shares of the biopharmaceutical company’s stock worth $44,441,000 after purchasing an additional 210,273 shares during the last quarter.

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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