TESARO Inc (NASDAQ: TSRO)
TESARO was off to a relatively normal day in the market today. While the stock started off slightly in the red, it had seen its ups and downs throughout the day, tasting both profits and losses. However, minutes ago, things got interesting as the stock started to spike. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to TSRO ahead.
What We’re Seeing From TSRO
As mentioned above, TESARO was off to a relatively uneventful day in today’s trading session. At the open of the day, the stock was in the red. While it saw ups and downs, seeing both red and green, nothing was exciting enough to write home about so to speak. Nonetheless, minutes ago, the stock started to spike. Currently (11:42), TSRO is trading at $176.50 per share after a gain of $13.55 per share or 8.32% thus far today.
Why The Stock Is Spiking
Our partners at Trade Ideas were the first to alert us of the gains on TSRO, as is almost always the case. Nonetheless, as soon as we got the alert, the CNA Finance team went to work to find the reason for the gains. In this particular case, it seems as though the gains are the result of the company considering a sale.
Recently, TESARO has received various takeover offers. With more than one takeover approach at hand, it makes sense that the company would consider a sale. Of course, if this ends up being the case, it will likely return tremendous value to shareholders. As a result, investors are starting to get excited, causing the stock to spike in value.
What We’ll Be Watching Ahead
Moving forward, the CNA Finance team will be keeping a close eye on TSRO. In particular, we’ll be watching to see if the company does indeed agree to be taken over, and of course, at what price and by whom. Nonetheless, we’ll be keeping a close eye on the news and bringing it to you as it breaks!
Update: According to Suntrust, TSRO may be worth $250 per share in an acquisition.
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