The stock of TESARO Inc (NASDAQ:TSRO) gapped up by $12.55 today and has $179.30 target or 52.00% above today’s $117.96 share price. The 8 months technical chart setup indicates low risk for the $6.02B company. The gap was reported on Oct, 10 by Barchart.com. If the $179.30 price target is reached, the company will be worth $3.13 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 5.43M shares traded hands or 398.17% up from the average. TESARO Inc (NASDAQ:TSRO) has risen 117.06% since March 7, 2016 and is uptrending. It has outperformed by 109.46% 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), 10 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 83% are positive. Tesaro Inc has been the topic of 18 analyst reports since August 24, 2015 according to StockzIntelligence Inc. Wells Fargo initiated TESARO Inc (NASDAQ:TSRO) on Friday, December 4 with “Outperform” rating. The stock has “Outperform” rating given by FBR Capital on Monday, October 10. The firm has “Outperform” rating given on Wednesday, June 29 by FBR Capital. As per Friday, February 5, the company rating was initiated by Lake Street. As per Friday, August 5, the company rating was maintained by Mizuho. As per Tuesday, August 30, the company rating was initiated by Bank of America. The firm earned “Outperform” rating on Monday, October 10 by Wedbush. As per Tuesday, July 19, the company rating was initiated by Robert W. Baird. The rating was initiated by Raymond James with “Strong-Buy” on Tuesday, September 1. Wedbush maintained the shares of TSRO in a report on Friday, August 5 with “Outperform” 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 Q2 2016. Its up 0.32, from 1.23 in 2016Q1. The ratio is positive, 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.
Credit Suisse Ag holds 0.01% of its portfolio in TESARO Inc (NASDAQ:TSRO) for 66,035 shares. Deutsche Natl Bank Ag has 377,176 shares for 0.02% of their US portfolio. Wells Fargo And Mn has 123,422 shares for 0% of their US portfolio. Dekabank Deutsche Girozentrale has 21,400 shares for 0.02% of their US portfolio. Legal & General Grp Inc Public holds 0% of its portfolio in TESARO Inc (NASDAQ:TSRO) for 6,581 shares. Pnc Serv Gru accumulated 0% or 283 shares. Royal Retail Bank Of Canada accumulated 8,759 shares or 0% of the stock. Hatteras Funds Limited Company owns 15,310 shares or 7.19% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) has 666 shares for 0% of their US portfolio. Price T Rowe Assocs Md accumulated 4.81M shares or 0.09% of the stock. Nea Mngmt Ltd Liability Corp holds 10.28M shares or 44.82% of its portfolio. Tocqueville Asset Management Ltd Partnership accumulated 0.03% or 31,750 shares. Eam Investors Llc last reported 33,741 shares in the company. Turner Invests Limited Partnership has invested 0.26% of its portfolio in TESARO Inc (NASDAQ:TSRO). Ladenburg Thalmann Fin Svcs last reported 25 shares in the company.
Insider Transactions: Since June 10, 2016, the stock had 0 buys, and 5 insider sales for $4.39 million net activity. Shares for $619,803 were sold by English Edward C. Huber Martin H. Jr. had sold 408 shares worth $44,113. Hanke Jeffrey H. sold $2.51 million worth of stock.
More recent TESARO Inc (NASDAQ:TSRO) news were published by: Fool.com which released: “Tesaro Inc. Is Flying High Today (and Could Go Higher From Here)” on October 10, 2016. Also Benzinga.com published the news titled: “Benzinga’s Volume Movers” on October 10, 2016. Schaeffersresearch.com‘s news article titled: “Analyst Upgrades: Deere & Company, Panera Bread Co, and TESARO Inc” with publication date: October 10, 2016 was also an interesting one.
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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