Zacks: Analysts Anticipate resTORbio, Inc. (NASDAQ:TORC) Will Announce Earnings of -$0.50 Per Share

Wall Street brokerages predict that resTORbio, Inc. (NASDAQ:TORC) will report ($0.50) earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for resTORbio’s earnings. The highest EPS estimate is ($0.46) and the lowest is ($0.54). resTORbio reported earnings per share of ($0.30) during the same quarter last year, which suggests a negative year-over-year growth rate of 66.7%. The business is expected to issue its next quarterly earnings results on Tuesday, November 12th.

On average, analysts expect that resTORbio will report full year earnings of ($1.99) per share for the current fiscal year, with EPS estimates ranging from ($2.37) to ($1.74). For the next year, analysts anticipate that the company will report earnings of ($2.32) per share, with EPS estimates ranging from ($2.55) to ($2.13). Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that follow resTORbio.

resTORbio (NASDAQ:TORC) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.12).



TORC has been the subject of several research reports. Zacks Investment Research downgraded shares of resTORbio from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Guggenheim initiated coverage on shares of resTORbio in a research report on Tuesday, June 4th. They set a “buy” rating and a $28.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. resTORbio presently has a consensus rating of “Buy” and a consensus target price of $19.50.

Shares of TORC stock traded up $0.16 during trading hours on Thursday, hitting $10.01. 165,200 shares of the company were exchanged, compared to its average volume of 199,746. The business has a 50 day moving average of $10.13 and a two-hundred day moving average of $8.55. resTORbio has a 52 week low of $6.21 and a 52 week high of $16.66.

A number of institutional investors have recently added to or reduced their stakes in TORC. Rhumbline Advisers acquired a new stake in resTORbio in the first quarter valued at $69,000. Parametric Portfolio Associates LLC acquired a new stake in resTORbio in the second quarter valued at $146,000. Marshall Wace North America L.P. lifted its stake in resTORbio by 1,292.1% in the first quarter. Marshall Wace North America L.P. now owns 31,085 shares of the company’s stock valued at $212,000 after acquiring an additional 28,852 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in resTORbio by 9.9% in the fourth quarter. Bank of New York Mellon Corp now owns 27,788 shares of the company’s stock valued at $239,000 after acquiring an additional 2,497 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in resTORbio by 6.5% in the fourth quarter. Bank of America Corp DE now owns 46,266 shares of the company’s stock valued at $398,000 after acquiring an additional 2,809 shares during the last quarter. 50.93% of the stock is owned by institutional investors and hedge funds.

resTORbio Company Profile

resTORbio, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for the treatment of aging-related diseases. Its lead program is targeting the selective inhibition of TORC1, an evolutionary conserved pathway that contributes to the decline in function of multiple organ systems, including the immune, cardiac, and neurologic systems.

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Earnings History and Estimates for resTORbio (NASDAQ:TORC)

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