resTORbio (NASDAQ:TORC) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of resTORbio (NASDAQ:TORC) from a hold rating to a buy rating in a report released on Wednesday, Zacks.com reports. Zacks Investment Research currently has $11.00 price objective on the stock.

According to Zacks, “resTORbio, Inc. is a clinical-stage biopharmaceutical company. It focused on the development and commercialization of therapeutics for the treatment of aging-related diseases. The company’s program consists of rapamycin complex 1 pathway to treat aging-related diseases and conditions. Its lead product candidate, RTB101 is an orally administered, small molecule, potent TORC1 inhibitor which is in clinical stage. resTORbio, Inc. is based in BOSTON, United States. “

Several other equities analysts also recently commented on TORC. Guggenheim initiated coverage on resTORbio in a research report on Tuesday, June 4th. They issued a buy rating and a $28.00 target price for the company. Wedbush reiterated an outperform rating on shares of resTORbio in a research report on Monday, March 18th. Finally, Svb Leerink reiterated an outperform rating on shares of resTORbio in a research report on Monday, March 25th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $19.50.

NASDAQ:TORC opened at $10.35 on Wednesday. resTORbio has a twelve month low of $6.21 and a twelve month high of $20.59.

resTORbio (NASDAQ:TORC) last released its quarterly earnings data on Wednesday, May 15th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.02). As a group, equities research analysts predict that resTORbio will post -1.84 EPS for the current year.

Institutional investors have recently bought and sold shares of the business. FMR LLC purchased a new stake in shares of resTORbio in the 1st quarter worth approximately $2,453,000. Marshall Wace North America L.P. grew its stake in shares of resTORbio by 1,292.1% in the 1st quarter. Marshall Wace North America L.P. now owns 31,085 shares of the company’s stock worth $212,000 after buying an additional 28,852 shares during the last quarter. OppenheimerFunds Inc. purchased a new stake in shares of resTORbio in the 1st quarter worth approximately $29,440,000. Jennison Associates LLC grew its stake in shares of resTORbio by 34.0% in the 1st quarter. Jennison Associates LLC now owns 2,868,640 shares of the company’s stock worth $19,564,000 after buying an additional 728,566 shares during the last quarter. Finally, Rhumbline Advisers purchased a new stake in shares of resTORbio in the 1st quarter worth approximately $69,000. Hedge funds and other institutional investors own 52.43% 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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