Zacks: Analysts Set $28.75 Price Target for resTORbio, Inc. (TORC)

Shares of resTORbio, Inc. (NASDAQ:TORC) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. Four research analysts have rated the stock with a strong buy rating.

Brokers have set a 12-month consensus target price of $28.75 for the company and are forecasting that the company will post ($0.42) earnings per share for the current quarter, according to Zacks. Zacks has also assigned resTORbio an industry rank of 164 out of 255 based on the ratings given to related companies.

A number of research analysts have weighed in on the stock. ValuEngine upgraded shares of resTORbio from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Evercore ISI assumed coverage on shares of resTORbio in a research note on Tuesday, February 20th. They issued an “outperform” rating and a $28.00 target price on the stock. Bank of America assumed coverage on shares of resTORbio in a research note on Tuesday, February 20th. They issued a “buy” rating and a $23.00 target price on the stock. Leerink Swann assumed coverage on shares of resTORbio in a research note on Tuesday, February 20th. They set an “outperform” rating and a $36.00 price target on the stock. Finally, Wedbush assumed coverage on shares of resTORbio in a research note on Tuesday, February 20th. They set an “outperform” rating and a $30.00 price target on the stock.



resTORbio opened at $11.97 on Wednesday, according to Marketbeat. resTORbio has a twelve month low of $7.55 and a twelve month high of $21.10.

resTORbio (NASDAQ:TORC) last released its earnings results on Thursday, May 10th. The company reported ($0.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.20). equities analysts expect that resTORbio will post -1.75 EPS for the current year.

Several hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. purchased a new stake in shares of resTORbio during the 1st quarter valued at approximately $5,269,000. Artal Group S.A. purchased a new stake in shares of resTORbio during the 1st quarter valued at approximately $4,311,000. BlackRock Inc. purchased a new stake in shares of resTORbio during the 1st quarter valued at approximately $2,856,000. Rock Springs Capital Management LP purchased a new stake in shares of resTORbio during the 1st quarter valued at approximately $2,635,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of resTORbio during the 1st quarter valued at approximately $1,598,000. Institutional investors own 40.23% of the company’s stock.

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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