Traders Are Bearish Tesaro, Inc. (TSRO) After The Stock Formed Bearish Multiple Bottom Pattern

April 17, 2018 - By Duane Lopez

Tesaro, Inc. (NASDAQ:TSRO) Logo

Investors sentiment decreased to 1.01 in 2017 Q4. Its down 0.20, from 1.21 in 2017Q3. It worsened, as 46 investors sold Tesaro, Inc. shares while 64 reduced holdings. 39 funds opened positions while 72 raised stakes. 57.95 million shares or 0.57% less from 58.28 million shares in 2017Q3 were reported.
California State Teachers Retirement Systems holds 0.01% of its portfolio in Tesaro, Inc. (NASDAQ:TSRO) for 60,609 shares. Citadel Advsr Limited Company holds 0% in Tesaro, Inc. (NASDAQ:TSRO) or 49,534 shares. Invesco Ltd reported 0.01% in Tesaro, Inc. (NASDAQ:TSRO). Aperio Grp Ltd Liability holds 0% or 4,922 shares in its portfolio. Millennium Ltd Llc holds 0.03% of its portfolio in Tesaro, Inc. (NASDAQ:TSRO) for 304,549 shares. Credit Suisse Ag has 268,936 shares for 0.02% of their portfolio. Kansas-based Creative Planning has invested 0.02% in Tesaro, Inc. (NASDAQ:TSRO). National Bank Of Ny Mellon Corp holds 476,603 shares or 0.01% of its portfolio. Greenwood Capital Associates Limited Liability Co holds 0.05% or 2,681 shares in its portfolio. Emory University holds 1.45% of its portfolio in Tesaro, Inc. (NASDAQ:TSRO) for 20,407 shares. Wells Fargo & Mn reported 365,990 shares. Cap Investors holds 237,000 shares. Moreover, Ellington Management Group Incorporated Ltd Co has 0.06% invested in Tesaro, Inc. (NASDAQ:TSRO) for 4,700 shares. 9 are owned by Assetmark. Sumitomo Mitsui Tru accumulated 109,142 shares.

Since March 1, 2018, it had 9 buys, and 7 insider sales for $61.19 million activity. $8.35 million worth of stock was bought by BARRIS PETER J on Friday, March 2. Another trade for 145,532 shares valued at $8.35 million was made by BASKETT FOREST on Friday, March 2. Shares for $6.68 million were bought by BARRETT M JAMES. The insider MOULDER LEON O JR bought $284,640. Oliveira Orlando sold $209,640 worth of stock or 3,000 shares. Hedley Mary Lynne also sold $211,485 worth of Tesaro, Inc. (NASDAQ:TSRO) shares.

The stock of Tesaro, Inc. (TSRO) shows a multiple bottoms pattern with $52.74 target or 8.00 % below today’s $57.33 share price. The 9 months chart pattern indicates high risk for the $3.14 billion company. It was reported on Apr, 17 by If the $52.74 price target is reached, the company will be worth $251.36 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 3.28% or $1.82 during the last trading session, reaching $57.33. About 618,159 shares traded. Tesaro, Inc. (NASDAQ:TSRO) has declined 63.82% since April 17, 2017 and is downtrending. It has underperformed by 75.37% the S&P500.

Analysts await Tesaro, Inc. (NASDAQ:TSRO) to report earnings on May, 8. They expect $-2.80 EPS, down 9.80 % or $0.25 from last year’s $-2.55 per share. After $-3.35 actual EPS reported by Tesaro, Inc. for the previous quarter, Wall Street now forecasts -16.42 % EPS growth.

Tesaro, Inc. (NASDAQ:TSRO) Ratings Coverage

Among 12 analysts covering Tesaro (NASDAQ:TSRO), 9 have Buy rating, 0 Sell and 3 Hold. Therefore 75% are positive. Tesaro has $165 highest and $65.0 lowest target. $112.83’s average target is 96.81% above currents $57.33 stock price. Tesaro had 17 analyst reports since October 23, 2017 according to SRatingsIntel. The stock has “Hold” rating by Piper Jaffray on Monday, April 16. The stock of Tesaro, Inc. (NASDAQ:TSRO) has “Overweight” rating given on Thursday, March 1 by Morgan Stanley. Piper Jaffray maintained the stock with “Hold” rating in Thursday, January 18 report. The firm has “Buy” rating by Wedbush given on Tuesday, March 27. The firm has “Buy” rating given on Wednesday, February 28 by Wells Fargo. As per Monday, October 23, the company rating was downgraded by Piper Jaffray. The company was maintained on Wednesday, November 8 by Morgan Stanley. The stock of Tesaro, Inc. (NASDAQ:TSRO) has “Buy” rating given on Wednesday, January 3 by Guggenheim. The firm has “Buy” rating given on Wednesday, February 28 by Leerink Swann. The company was upgraded on Wednesday, November 15 by Leerink Swann.

Tesaro, Inc. (NASDAQ:TSRO) Institutional Positions Chart

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