Nea Management Company buys $439.2 Million stake in TESARO Inc (TSRO)

TESARO Inc (TSRO) : Nea Management Company scooped up 1,420,858 additional shares in TESARO Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 10,275,113 shares of TESARO Inc which is valued at $439.2 Million.TESARO Inc makes up approximately 28.95% of Nea Management Company’s portfolio.

Other Hedge Funds, Including , Teacher Retirement System Of Texas boosted its stake in TSRO in the latest quarter, The investment management firm added 776 additional shares and now holds a total of 3,192 shares of TESARO Inc which is valued at $136,426.Blackrock Group Ltd boosted its stake in TSRO in the latest quarter, The investment management firm added 11,880 additional shares and now holds a total of 162,499 shares of TESARO Inc which is valued at $6.9 Million.Essex Investment Management Co boosted its stake in TSRO in the latest quarter, The investment management firm added 3,500 additional shares and now holds a total of 12,506 shares of TESARO Inc which is valued at $534,506. TESARO Inc makes up approx 0.09% of Essex Investment Management Co’s portfolio.State Board Of Administration Of Florida Retirement System reduced its stake in TSRO by selling 3,730 shares or 17.93% in the most recent quarter. The Hedge Fund company now holds 17,074 shares of TSRO which is valued at $676,984.

TESARO Inc opened for trading at $43.15 and hit $44.9 on the upside on Monday, eventually ending the session at $44.3, with a gain of 3.65% or 1.56 points. The heightened volatility saw the trading volume jump to 5,97,842 shares. Company has a market cap of $2,031 M.

On the company’s financial health, TESARO Inc reported $-2.22 EPS for the quarter, missing the analyst consensus estimate by $ -0.54 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $-1.68. The company had revenue of $.31 million for the quarter, compared to analysts expectations of $3.54 million. During the same quarter in the previous year, the company posted $-1.30 EPS.

Many Wall Street Analysts have commented on TESARO Inc. TESARO Inc was Initiated by Credit Suisse to “Outperform” on May 13, 2016. FBR Capital Initiated TESARO Inc on Apr 13, 2016 to “Outperform”, Price Target of the shares are set at $65.Sun Trust Rbsn Humphrey Initiated TESARO Inc on Mar 2, 2016 to “Buy”, Price Target of the shares are set at $60.

TESARO Inc. (TESARO) is oncology-focused biopharmaceutical company. The Company acquires in-licenses and develops oncology product candidates. The Company has in-licensed and are developing three clinical-stage product candidates rolapitant niraparib and TSR-011. Rolapitant is a potent and long-acting neurokinin-1 or NK-1 receptor antagonist for the prevention of chemotherapy induced nausea and vomiting (CINV); Niraparib formerly known as MK-4827 is an orally active and potent poly (ADP-ribose) polymerase and TSR-011 is an orally available targeted anti-cancer agent which is a potent inhibitor of both anaplastic lymphoma kinase (ALK) and tropomyosin-related kinase (TRK). The Company is also developing immuno-oncology programs by entering into a collaboration and exclusive license agreement with AnaptysBio Inc. for the discovery and development of antibodies for several specified immuno-oncology targets.

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