TESARO Target of Unusually High Options Trading (TSRO)

TESARO Inc (NASDAQ:TSRO) saw some unusual options trading on Monday. Investors bought 7,621 put options on the company. This represents an increase of approximately 1,016% compared to the average daily volume of 683 put options.

A number of brokerages recently commented on TSRO. Cantor Fitzgerald upped their target price on TESARO from $57.00 to $68.00 and gave the company a “positive” rating in a report on Monday, October 22nd. Argus downgraded TESARO from a “buy” rating to a “hold” rating in a report on Wednesday, August 15th. Bank of America increased their price objective on TESARO from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Tuesday, September 11th. Citigroup decreased their price objective on TESARO from $100.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, August 29th. Finally, Cowen reiterated a “hold” rating and issued a $38.00 price objective on shares of TESARO in a report on Monday, October 22nd. Thirteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. TESARO currently has an average rating of “Buy” and an average price target of $74.90.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Great Lakes Advisors LLC purchased a new stake in shares of TESARO in the third quarter worth $4,098,000. Vanguard Group Inc. grew its stake in shares of TESARO by 3.6% in the third quarter. Vanguard Group Inc. now owns 3,336,421 shares of the biopharmaceutical company’s stock worth $130,154,000 after acquiring an additional 116,337 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of TESARO by 27.8% in the third quarter. TIAA CREF Investment Management LLC now owns 1,372,970 shares of the biopharmaceutical company’s stock worth $53,560,000 after acquiring an additional 298,457 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of TESARO by 53.5% in the third quarter. Teachers Advisors LLC now owns 1,016,420 shares of the biopharmaceutical company’s stock worth $39,651,000 after acquiring an additional 354,177 shares during the last quarter. Finally, Opus Point Partners Management LLC grew its stake in shares of TESARO by 720.0% in the third quarter. Opus Point Partners Management LLC now owns 94,300 shares of the biopharmaceutical company’s stock worth $3,679,000 after acquiring an additional 82,800 shares during the last quarter.

NASDAQ TSRO opened at $73.50 on Tuesday. TESARO has a 12 month low of $23.41 and a 12 month high of $87.93. The firm has a market capitalization of $2.55 billion, a PE ratio of -8.02 and a beta of 1.46. The company has a debt-to-equity ratio of 3.74, a quick ratio of 2.83 and a current ratio of 3.40.

TESARO (NASDAQ:TSRO) last released its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($2.49) EPS for the quarter, topping analysts’ consensus estimates of ($2.62) by $0.13. TESARO had a negative return on equity of 1,209.72% and a negative net margin of 295.67%. The firm had revenue of $64.40 million for the quarter, compared to analysts’ expectations of $71.84 million. During the same period in the prior year, the firm posted ($0.47) earnings per share. The company’s quarterly revenue was down 54.9% on a year-over-year basis. As a group, equities analysts anticipate that TESARO will post -10.93 earnings per share for the current year.

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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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