Zacks Investment Research Downgrades TESARO Inc (TSRO) to Sell

Zacks Investment Research downgraded shares of TESARO Inc (NASDAQ:TSRO) from a hold rating to a sell rating in a report issued on Wednesday morning.

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. “

Other analysts have also recently issued research reports about the stock. Leerink Swann cut shares of TESARO from an outperform rating to a market perform rating and set a $186.00 price objective for the company. in a research note on Friday, February 10th. They noted that the move was a valuation call. Cowen and Company set a $155.00 price objective on shares of TESARO and gave the company a hold rating in a research note on Saturday, February 25th. FBR & Co cut shares of TESARO from an outperform rating to a market perform rating and upped their price objective for the company from $151.00 to $202.00 in a research note on Thursday, February 16th. Wedbush reaffirmed an outperform rating and set a $139.00 price objective on shares of TESARO in a research note on Wednesday, December 21st. Finally, Robert W. Baird dropped their price objective on shares of TESARO from $182.00 to $165.00 and set a positive rating for the company in a research note on Wednesday, March 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. TESARO presently has an average rating of Buy and an average price target of $166.84.

Shares of TESARO (NASDAQ:TSRO) opened at 156.73 on Wednesday. The stock’s 50 day moving average is $172.85 and its 200 day moving average is $139.14. The company’s market cap is $8.40 billion. TESARO has a 1-year low of $36.68 and a 1-year high of $192.94.

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In other news, SVP Martin H. Jr. Huber sold 190 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $136.26, for a total value of $25,889.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mary Lynne Hedley sold 3,927 shares of the stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $177.61, for a total transaction of $697,474.47. Following the completion of the sale, the chief operating officer now directly owns 10,000 shares of the company’s stock, valued at approximately $1,776,100. The disclosure for this sale can be found here. In the last three months, insiders sold 15,793 shares of company stock valued at $2,801,638. Corporate insiders own 40.50% of the company’s stock.

Several hedge funds have recently bought and sold shares of TSRO. Capital Analysts LLC purchased a new stake in TESARO during the fourth quarter valued at $134,000. Massmutual Trust Co. FSB ADV purchased a new stake in TESARO during the fourth quarter valued at $134,000. Citizens Financial Group Inc RI purchased a new stake in TESARO during the third quarter valued at $154,000. CenturyLink Investment Management Co purchased a new stake in TESARO during the third quarter valued at $172,000. Finally, Pacer Advisors Inc. bought a new position in shares of TESARO during the third quarter valued at approximately $216,000. 98.48% of the stock is owned by institutional investors and hedge funds.

About TESARO

TESARO, Inc is an oncology-focused biopharmaceutical company. The Company acquires, in-licenses and develops oncology product candidates. It operates in business of developing and commercializing oncology-focused therapeutics segment. It has in-licensed and are developing oncology-related product candidates, including intravenous (IV) rolapitant and niraparib, as well as product candidates under its immuno-oncology platform.

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