Sumitomo Mitsui Asset Management Company LTD Takes Position in TESARO, Inc. (TSRO)
Sumitomo Mitsui Asset Management Company LTD purchased a new stake in shares of TESARO, Inc. (NASDAQ:TSRO) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,532 shares of the biopharmaceutical company’s stock, valued at approximately $354,000.
Several other institutional investors have also made changes to their positions in the stock. Shell Asset Management Co. raised its position in shares of TESARO by 29.3% in the second quarter. Shell Asset Management Co. now owns 10,092 shares of the biopharmaceutical company’s stock valued at $1,411,000 after buying an additional 2,285 shares in the last quarter. Trellus Management Company LLC raised its position in shares of TESARO by 12.3% in the second quarter. Trellus Management Company LLC now owns 8,419 shares of the biopharmaceutical company’s stock valued at $1,177,000 after buying an additional 919 shares in the last quarter. Whittier Trust Co. raised its position in shares of TESARO by 2.9% in the second quarter. Whittier Trust Co. now owns 11,506 shares of the biopharmaceutical company’s stock valued at $1,609,000 after buying an additional 320 shares in the last quarter. Aperio Group LLC raised its position in shares of TESARO by 4.5% in the second quarter. Aperio Group LLC now owns 3,658 shares of the biopharmaceutical company’s stock valued at $512,000 after buying an additional 156 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund acquired a new position in shares of TESARO during the second quarter valued at $993,000.
TESARO, Inc. (TSRO) opened at 111.85 on Friday. The stock’s 50 day moving average price is $130.46 and its 200 day moving average price is $149.15. The firm’s market capitalization is $6.06 billion. TESARO, Inc. has a one year low of $83.26 and a one year high of $192.94.
TESARO (NASDAQ:TSRO) last released its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($2.82) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.52) by $0.30. The firm had revenue of $29.50 million during the quarter, compared to analysts’ expectations of $18.61 million. TESARO had a negative return on equity of 104.00% and a negative net margin of 1,301.19%. The firm’s revenue was down 17.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.28) earnings per share. Analysts expect that TESARO, Inc. will post ($8.45) EPS for the current year.
COPYRIGHT VIOLATION WARNING: This piece was published by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.watchlistnews.com/sumitomo-mitsui-asset-management-company-ltd-takes-position-in-tesaro-inc-tsro/1476503.html.
Several brokerages recently weighed in on TSRO. Robert W. Baird restated a “neutral” rating and issued a $140.00 price target (down previously from $155.00) on shares of TESARO in a research note on Thursday. Morgan Stanley restated an “overweight” rating and issued a $183.00 price target on shares of TESARO in a research note on Thursday. ValuEngine upgraded TESARO from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Credit Suisse Group set a $198.00 price target on TESARO and gave the company a “buy” rating in a research note on Wednesday, July 19th. Finally, BidaskClub lowered TESARO from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $176.35.
In other TESARO news, VP Edward C. English sold 8,500 shares of TESARO stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $138.65, for a total value of $1,178,525.00. Following the transaction, the vice president now owns 5,396 shares in the company, valued at approximately $748,155.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 40.50% of the stock is currently owned by insiders.
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.
Want to see what other hedge funds are holding TSRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TESARO, Inc. (NASDAQ:TSRO).
Receive News & Ratings for TESARO Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TESARO Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.