Worth Watching: What’s TESARO Inc Upside After Reaching 52-Week High?

Worth Watching: What's TESARO Inc Upside After Reaching 52 Week High?

The stock of TESARO Inc (NASDAQ:TSRO) hit a new 52-week high and has $182.60 target or 49.00% above today’s $122.55 share price. The 5 months bullish chart indicates low risk for the $6.27B company. The 1-year high was reported on Nov, 1 by Barchart.com. If the $182.60 price target is reached, the company will be worth $3.07B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 260,962 shares traded hands. TESARO Inc (NASDAQ:TSRO) has risen 180.92% since March 30, 2016 and is uptrending. It has outperformed by 177.91% the S&P500.

Analysts await TESARO Inc (NASDAQ:TSRO) to report earnings on November, 3. They expect $-1.92 earnings per share, down 15.66% or $0.26 from last year’s $-1.66 per share. After $-1.28 actual earnings per share reported by TESARO Inc for the previous quarter, Wall Street now forecasts 50.00% negative EPS growth.

TESARO Inc (NASDAQ:TSRO) Ratings Coverage

Out of 12 analysts covering Tesaro Inc (NASDAQ:TSRO), 11 rate it a “Buy”, 1 “Sell”, while 0 “Hold”. This means 92% are positive. Tesaro Inc has been the topic of 20 analyst reports since August 24, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by Leerink Swann given on Monday, August 24. Citigroup initiated the stock with “Buy” rating in Thursday, March 17 report. The rating was upgraded by Zacks to “Sell” on Tuesday, September 1. Leerink Swann maintained it with “Outperform” rating and $115 target price in Monday, October 10 report. Raymond James initiated the stock with “Strong-Buy” rating in Tuesday, September 1 report. The stock has “Outperform” rating given by Wedbush on Thursday, January 21. The stock has “Outperform” rating given by RBC Capital Markets on Monday, October 10. The firm earned “Outperform” rating on Wednesday, June 29 by FBR Capital. The rating was initiated by Credit Suisse with “Outperform” on Friday, May 13. Bank of America upgraded TESARO Inc (NASDAQ:TSRO) on Monday, October 10 to “Buy” rating.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment increased to 1.55 in 2016 Q2. Its up 0.32, from 1.23 in 2016Q1. The ratio increased, as 24 funds sold all TESARO Inc shares owned while 36 reduced positions. 34 funds bought stakes while 59 increased positions. They now own 44.90 million shares or 3.32% less from 46.44 million shares in 2016Q1.
Venbio Select Advisor Ltd Liability Company holds 514,000 shares or 9.6% of its portfolio. Columbia L L C Invest Mgmt holds 0.24% or 39,132 shares in its portfolio. Td Asset Mgmt holds 0.02% or 113,153 shares in its portfolio. Moreover, Balyasny Asset Ltd Liability Corporation has 0.04% invested in TESARO Inc (NASDAQ:TSRO) for 65,140 shares. Nea Mgmt Ltd accumulated 10.28 million shares or 44.82% of the stock. Blackrock Institutional Communications Na last reported 719,297 shares in the company. State Board Of Administration Of Florida Retirement System reported 20,450 shares or 0.01% of all its holdings. Principal Fincl Gru Inc last reported 0% of its portfolio in the stock. Jefferies Gp Ltd holds 0% or 97 shares in its portfolio. Birchview Cap Ltd Partnership has 8,450 shares for 0.52% of their US portfolio. Federated Invsts Pa has invested 0.09% of its portfolio in TESARO Inc (NASDAQ:TSRO). Credit Suisse Ag owns 66,035 shares or 0.01% of their US portfolio. Raymond James Service Inc, a Florida-based fund reported 5,640 shares. Moreover, X Management Limited has 0% invested in TESARO Inc (NASDAQ:TSRO) for 104 shares. Bb Biotech Ag holds 3.83% or 1.15 million shares in its portfolio.

Insider Transactions: Since June 10, 2016, the stock had 0 insider purchases, and 5 insider sales for $4.39 million net activity. Another trade for 7,000 shares valued at $619,803 was sold by English Edward C. $44,113 worth of shares were sold by Huber Martin H. Jr. on Wednesday, September 21. Hanke Jeffrey H. sold $929,321 worth of stock.

More news for TESARO Inc (NASDAQ:TSRO) were recently published by: Fool.com, which released: “Tesaro Inc. Is Flying High Today (and Could Go Higher From Here)” on October 10, 2016. Investorplace.com‘s article titled: “Why Alphabet Inc (GOOG), Mylan NV (MYL) And Tesaro Inc (TSRO) Are 3 of Today’s …” and published on October 10, 2016 is yet another important article.

TSRO Company Profile

TESARO, Inc. (TESARO), incorporated on March 26, 2010, is an oncology-focused biopharmaceutical company. The Firm acquires, in-licenses and develops oncology product candidates. The Firm operates in business of developing and commercializing oncology-focused therapeutics segment. The Firm 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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