|Bid||118.07 x 100|
|Ask||118.27 x 100|
|Day's Range||113.15 - 118.67|
|52 Week Range||83.26 - 192.94|
|PE Ratio (TTM)||-13.86|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The FDA decided yesterday to expand the use of the ovarian cancer drug Lynparza, sold by AstraZeneca (AZN) and Merck (MRK). The two drugs belong to a class known as PARP inhibitors. Approved in 2014, AstraZeneca's Lynparza was the first such drug to make its way through the FDA.
The Food and Drug Administration approved a broader label for AstraZeneca’s (AZN) breast cancer drug Lynparza to be used in ovarian cancer patients. Morgan Stanley’s Andrew Berens and his team are updating their models following the news, writing that he expects the three major players—AstraZeneca, Clovis Oncology (CLVS), and Tesaro (TSRO)—will likely split the market for second line (2L) treatment.
Short interest is high for TSRO with between 15 and 20% of shares on loan. This means that investors who seek to profit from falling equity prices are currently targeting TSRO. ETFs that hold TSRO had net inflows of $1.34 billion over the last one-month.