resTORbio, Inc. (NASDAQ:TORC) Receives Consensus Recommendation of “Buy” from Analysts

resTORbio, Inc. (NASDAQ:TORC) has been assigned a consensus rating of “Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $25.50.

A number of equities research analysts have recently weighed in on TORC shares. Zacks Investment Research lowered resTORbio from a “hold” rating to a “sell” rating in a research note on Tuesday, August 20th. ValuEngine upgraded resTORbio from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Finally, Cantor Fitzgerald started coverage on resTORbio in a research report on Monday, September 9th. They issued an “overweight” rating and a $23.00 target price on the stock.

A number of hedge funds and other institutional investors have recently modified their holdings of TORC. Rhumbline Advisers purchased a new stake in resTORbio in the first quarter valued at approximately $69,000. Jennison Associates LLC boosted its position in resTORbio by 34.0% in the first quarter. Jennison Associates LLC now owns 2,868,640 shares of the company’s stock valued at $19,564,000 after buying an additional 728,566 shares during the last quarter. OppenheimerFunds Inc. acquired a new position in resTORbio in the first quarter valued at approximately $29,440,000. Marshall Wace North America L.P. lifted its holdings 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 period. Finally, FMR LLC acquired a new position in resTORbio in the first quarter valued at approximately $2,453,000. Hedge funds and other institutional investors own 51.05% of the company’s stock.



Shares of TORC stock traded up $0.19 during trading hours on Friday, reaching $7.51. 3,359 shares of the company’s stock were exchanged, compared to its average volume of 110,396. resTORbio has a 1 year low of $6.21 and a 1 year high of $14.05. The stock has a market cap of $280.36 million, a PE ratio of -5.28 and a beta of 3.25. The stock’s fifty day moving average price is $9.38 and its two-hundred day moving average price is $8.87.

resTORbio (NASDAQ:TORC) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.51) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.12). On average, equities analysts expect that resTORbio will post -2.14 earnings per share for the current fiscal year.

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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