Shares of TESARO Inc (NASDAQ:TSRO) shot up 5.7% during mid-day trading on Friday . The company traded as high as $28.86 and last traded at $28.78. 1,589,885 shares changed hands during mid-day trading, an increase of 1% from the average session volume of 1,571,621 shares. The stock had previously closed at $27.22.

A number of brokerages recently issued reports on TSRO. Zacks Investment Research cut TESARO from a “hold” rating to a “sell” rating in a research report on Tuesday, July 3rd. Cowen reissued a “hold” rating and issued a $52.00 target price on shares of TESARO in a research report on Wednesday, June 27th. Bank of America decreased their target price on TESARO from $94.00 to $88.00 and set a “buy” rating for the company in a research report on Friday, May 4th. Barclays decreased their target price on TESARO from $60.00 to $56.00 and set an “overweight” rating for the company in a research report on Monday, August 6th. Finally, Piper Jaffray Companies decreased their target price on TESARO to $50.00 and set a “neutral” rating for the company in a research report on Thursday, May 3rd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. TESARO presently has a consensus rating of “Hold” and an average target price of $95.70.

The company has a quick ratio of 3.64, a current ratio of 4.11 and a debt-to-equity ratio of -29.71. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -3.14 and a beta of 1.08.

TESARO (NASDAQ:TSRO) last posted its quarterly earnings data on Thursday, August 2nd. The biopharmaceutical company reported ($3.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.66) by ($0.38). TESARO had a negative return on equity of 285.30% and a negative net margin of 180.29%. The company had revenue of $57.21 million for the quarter, compared to analyst estimates of $65.50 million. During the same period in the previous year, the business posted ($2.82) earnings per share. The firm’s revenue was up 94.2% compared to the same quarter last year. research analysts predict that TESARO Inc will post -11.08 EPS for the current year.

In other news, Director Arnold L. Oronsky sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $26.77, for a total transaction of $267,700.00. Following the completion of the transaction, the director now directly owns 12,479 shares of the company’s stock, valued at approximately $334,062.83. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lawrence M. Alleva sold 7,142 shares of the stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $43.11, for a total value of $307,891.62. The disclosure for this sale can be found here. Insiders have sold a total of 17,329 shares of company stock valued at $582,019 over the last ninety days. 33.70% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Neuberger Berman Group LLC raised its stake in shares of TESARO by 0.8% during the 1st quarter. Neuberger Berman Group LLC now owns 149,157 shares of the biopharmaceutical company’s stock worth $8,523,000 after buying an additional 1,117 shares in the last quarter. American International Group Inc. raised its stake in shares of TESARO by 138.8% during the 1st quarter. American International Group Inc. now owns 2,099 shares of the biopharmaceutical company’s stock worth $120,000 after buying an additional 1,220 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of TESARO by 2.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 52,405 shares of the biopharmaceutical company’s stock worth $2,994,000 after buying an additional 1,287 shares in the last quarter. KBC Group NV raised its stake in shares of TESARO by 20.0% during the 2nd quarter. KBC Group NV now owns 10,533 shares of the biopharmaceutical company’s stock worth $468,000 after buying an additional 1,752 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of TESARO by 5.0% during the 2nd quarter. Rhumbline Advisers now owns 39,787 shares of the biopharmaceutical company’s stock worth $1,769,000 after buying an additional 1,885 shares in the last quarter.

About TESARO (NASDAQ:TSRO)

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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