Zacks: resTORbio, Inc. (TORC) Given $29.25 Consensus Target Price by Brokerages

Shares of resTORbio, Inc. (NASDAQ:TORC) have been assigned an average broker rating score of 1.00 (Strong Buy) from the four brokers that cover the company, Zacks Investment Research reports. Four equities research analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 12-month consensus target price of $29.25 for the company and are predicting that the company will post ($1.03) EPS for the current quarter, according to Zacks. Zacks has also given resTORbio an industry rank of 189 out of 265 based on the ratings given to its competitors.

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Several equities research analysts recently issued reports on TORC shares. Leerink Swann started coverage on resTORbio in a research note on Tuesday, February 20th. They set an “outperform” rating and a $36.00 price objective for the company. Bank of America started coverage on resTORbio in a research note on Tuesday, February 20th. They set a “buy” rating and a $23.00 price objective for the company. Wedbush assumed coverage on resTORbio in a research note on Tuesday, February 20th. They set an “outperform” rating and a $30.00 price objective for the company. Finally, Evercore ISI assumed coverage on resTORbio in a research report on Tuesday, February 20th. They set an “outperform” rating and a $28.00 price target on the stock.

In other news, Director Orbimed Advisors Llc purchased 533,333 shares of the stock in a transaction on Tuesday, January 30th. The shares were acquired at an average price of $15.00 per share, for a total transaction of $7,999,995.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Puretech Health Llc purchased 233,333 shares of the stock in a transaction on Tuesday, January 30th. The shares were purchased at an average price of $15.00 per share, for a total transaction of $3,499,995.00. The disclosure for this purchase can be found here.

resTORbio (TORC) traded up $0.03 during trading hours on Wednesday, reaching $14.95. The company had a trading volume of 773,448 shares, compared to its average volume of 110,114. resTORbio has a 12 month low of $14.11 and a 12 month high of $21.10.

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resTORbio Company Profile

resTORbio, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of novel therapeutics for the treatment of aging-related diseases. It focuses on the mechanistic target of rapamycin (mTOR) pathway that regulates aging, and specifically on selective inhibition of the target of rapamycin complex 1 (TORC1).

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