CIBC Asset Management Inc Invests $234,000 in TESARO, Inc. (TSRO)

CIBC Asset Management Inc purchased a new position in TESARO, Inc. (NASDAQ:TSRO) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,813 shares of the biopharmaceutical company’s stock, valued at approximately $234,000.

Several other large investors also recently bought and sold shares of the company. Hanseatic Management Services Inc. boosted its position in shares of TESARO by 0.3% in the 2nd quarter. Hanseatic Management Services Inc. now owns 5,936 shares of the biopharmaceutical company’s stock worth $830,000 after purchasing an additional 15 shares during the last quarter. Stephens Inc. AR boosted its position in shares of TESARO by 6.5% in the 2nd quarter. Stephens Inc. AR now owns 1,874 shares of the biopharmaceutical company’s stock worth $262,000 after purchasing an additional 115 shares during the last quarter. Cornerstone Capital Management Holdings LLC. boosted its position in shares of TESARO by 1.1% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 12,092 shares of the biopharmaceutical company’s stock worth $1,690,000 after purchasing an additional 136 shares during the last quarter. Aperio Group LLC boosted its position in shares of TESARO by 4.5% in the 2nd quarter. Aperio Group LLC now owns 3,658 shares of the biopharmaceutical company’s stock worth $512,000 after purchasing an additional 156 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in shares of TESARO by 6.3% in the 2nd quarter. IFP Advisors Inc now owns 4,471 shares of the biopharmaceutical company’s stock worth $625,000 after purchasing an additional 265 shares during the last quarter.

Shares of TESARO, Inc. (TSRO) opened at $83.54 on Tuesday. TESARO, Inc. has a 1-year low of $83.35 and a 1-year high of $192.94. The company has a current ratio of 4.73, a quick ratio of 4.35 and a debt-to-equity ratio of 0.34.

TESARO (NASDAQ:TSRO) last issued its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.69. TESARO had a negative return on equity of 93.39% and a negative net margin of 251.22%. The company had revenue of $142.77 million during the quarter, compared to analysts’ expectations of $130.57 million. During the same quarter in the previous year, the company posted ($1.72) earnings per share. The business’s revenue was up 740.3% on a year-over-year basis. sell-side analysts anticipate that TESARO, Inc. will post -8.16 earnings per share for the current fiscal year.

In related news, SVP Martin H. Jr. Huber sold 592 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $118.60, for a total value of $70,211.20. Following the completion of the sale, the senior vice president now directly owns 6,943 shares in the company, valued at $823,439.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director James O. Armitage sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $117.13, for a total value of $1,171,300.00. Following the completion of the sale, the director now owns 10,000 shares of the company’s stock, valued at $1,171,300. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,692 shares of company stock valued at $4,628,976. Corporate insiders own 34.60% of the company’s stock.

Several research analysts have weighed in on the company. Credit Suisse Group set a $190.00 target price on TESARO and gave the stock a “buy” rating in a report on Friday, August 18th. HC Wainwright reiterated a “buy” rating and set a $158.00 target price on shares of TESARO in a report on Monday. Morgan Stanley reiterated an “overweight” rating and set a $183.00 target price on shares of TESARO in a report on Thursday, August 10th. Evercore ISI assumed coverage on TESARO in a report on Wednesday, August 16th. They set an “in-line” rating and a $121.00 target price on the stock. Finally, Lake Street Capital reiterated a “buy” rating and set a $143.00 target price on shares of TESARO in a report on Thursday, November 9th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. TESARO currently has an average rating of “Buy” and a consensus target price of $161.72.

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About TESARO

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.

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Institutional Ownership by Quarter for TESARO (NASDAQ:TSRO)

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