resTORbio, Inc. (TORC) Receives Average Recommendation of “Buy” from Brokerages

resTORbio, Inc. (NASDAQ:TORC) has been assigned a consensus rating of “Buy” from the six research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $25.75.

Several brokerages have recently weighed in on TORC. Zacks Investment Research raised shares of resTORbio from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Saturday, November 17th. ValuEngine raised shares of resTORbio from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st.

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in resTORbio by 2.7% during the third quarter. Vanguard Group Inc. now owns 288,490 shares of the company’s stock valued at $4,368,000 after acquiring an additional 7,545 shares during the last quarter. Baillie Gifford & Co. lifted its position in resTORbio by 10.5% during the third quarter. Baillie Gifford & Co. now owns 983,618 shares of the company’s stock valued at $14,892,000 after acquiring an additional 93,402 shares during the last quarter. Schroder Investment Management Group purchased a new stake in resTORbio during the third quarter valued at approximately $1,216,000. BlackRock Inc. lifted its position in resTORbio by 46.8% during the third quarter. BlackRock Inc. now owns 470,260 shares of the company’s stock valued at $7,119,000 after acquiring an additional 149,950 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in resTORbio by 95.4% during the third quarter. Jennison Associates LLC now owns 2,154,230 shares of the company’s stock valued at $32,615,000 after acquiring an additional 1,051,944 shares during the last quarter. 41.65% of the stock is owned by hedge funds and other institutional investors.

Shares of TORC traded down $0.53 during mid-day trading on Monday, hitting $12.06. The company’s stock had a trading volume of 22,314 shares, compared to its average volume of 50,583. resTORbio has a 52-week low of $7.55 and a 52-week high of $21.10. The stock has a market capitalization of $353.22 million and a PE ratio of -1.43.

resTORbio (NASDAQ:TORC) last announced its quarterly earnings results on Tuesday, November 13th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.51) by $0.21. On average, equities analysts expect that resTORbio will post -1.71 earnings per share for the current fiscal year.

About resTORbio

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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