Tesaro (TSRO) Sees Unusually-High Trading Volume

Shares of Tesaro (NASDAQ:TSRO) saw unusually-strong trading volume on Tuesday . Approximately 4,306,547 shares changed hands 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.

Several research analysts recently weighed in on TSRO shares. Cann reaffirmed a “buy” rating and issued a $122.00 target price (down previously from $199.00) on shares of Tesaro in a report on Tuesday, February 27th. BidaskClub raised shares of Tesaro from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $108.00 target price on shares of Tesaro in a report on Tuesday, March 27th. Barclays dropped their target price on shares of Tesaro from $135.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. Finally, Morgan Stanley dropped their price objective on shares of Tesaro from $156.00 to $146.00 and set an “overweight” rating for the company in a report on Thursday, March 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the stock. Tesaro currently has a consensus rating of “Buy” and an average target price of $119.00.

The company has a debt-to-equity ratio of 3.74, a quick ratio of 3.56 and a current ratio of 4.02. The stock has a market cap of $2.62 billion, a PE ratio of -5.39 and a beta of 1.32.

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

In other Tesaro news, CEO Leon O. Moulder, Jr. bought 5,000 shares of the firm’s stock in a transaction dated Friday, March 2nd. The shares were purchased at an average cost of $56.93 per share, for a total transaction of $284,650.00. Following the transaction, the chief executive officer now owns 1,018,828 shares of the company’s stock, valued at $58,001,878.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David M. Mott bought 68,302 shares of the firm’s stock in a transaction dated Friday, March 2nd. The shares were acquired at an average price of $55.56 per share, for a total transaction of $3,794,859.12. Following the completion of the transaction, the director now directly owns 12,825 shares in the company, valued at approximately $712,557. The disclosure for this purchase can be found here. Over the last 90 days, 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 currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of TSRO. SG Americas Securities LLC purchased a new stake in Tesaro in the 1st quarter worth about $110,000. Ostrum Asset Management purchased a new stake in Tesaro in the 1st quarter worth about $111,000. American International Group Inc. raised its position in Tesaro by 138.8% in the 1st quarter. American International Group Inc. now owns 2,099 shares of the biopharmaceutical company’s stock worth $120,000 after purchasing an additional 1,220 shares during the period. Exane Derivatives raised its position in Tesaro by 137.1% in the 4th quarter. Exane Derivatives now owns 1,942 shares of the biopharmaceutical company’s stock worth $161,000 after purchasing an additional 1,123 shares during the period. Finally, Bourgeon Capital Management LLC purchased a new stake in Tesaro in the 4th quarter worth about $211,000.

About Tesaro

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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