Svb Leerink Research Analysts Cut Earnings Estimates for resTORbio, Inc. (NASDAQ:TORC)

resTORbio, Inc. (NASDAQ:TORC) – Svb Leerink decreased their FY2022 earnings estimates for resTORbio in a report issued on Wednesday, November 6th. Svb Leerink analyst G. Porges now anticipates that the company will post earnings per share of $0.97 for the year, down from their prior forecast of $1.01.

resTORbio (NASDAQ:TORC) last posted its earnings results on Tuesday, November 5th. The company reported ($0.68) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.54) by ($0.14).

A number of other brokerages have also recently commented on TORC. Zacks Investment Research cut shares of resTORbio from a “hold” rating to a “sell” rating in a research note on Saturday. Cantor Fitzgerald began coverage on shares of resTORbio in a research note on Monday, September 9th. They set an “overweight” rating and a $23.00 price target for the company. Finally, ValuEngine upgraded shares of resTORbio from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $20.67.

resTORbio stock traded up $0.50 during mid-day trading on Friday, hitting $8.70. 238,200 shares of the company’s stock were exchanged, compared to its average volume of 146,159. The stock has a market cap of $274.20 million, a P/E ratio of -6.13 and a beta of 3.15. resTORbio has a 1-year low of $6.21 and a 1-year high of $14.05. The stock has a 50 day moving average of $7.83 and a two-hundred day moving average of $8.91.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Institutional investors and hedge funds have recently made changes to their positions in the business. Brave Asset Management Inc. bought a new position in resTORbio during the third quarter worth about $135,000. Parametric Portfolio Associates LLC bought a new position in shares of resTORbio in the second quarter valued at approximately $146,000. Rhumbline Advisers raised its stake in shares of resTORbio by 12.4% in the third quarter. Rhumbline Advisers now owns 19,503 shares of the company’s stock valued at $172,000 after acquiring an additional 2,159 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of resTORbio by 54.5% in the second quarter. Bank of New York Mellon Corp now owns 45,404 shares of the company’s stock valued at $464,000 after acquiring an additional 16,007 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of resTORbio by 38.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 91,742 shares of the company’s stock valued at $936,000 after acquiring an additional 25,637 shares during the last quarter. Hedge funds and other institutional investors own 50.98% 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.

Further Reading: What is Depreciation?

Earnings History and Estimates for resTORbio (NASDAQ:TORC)

Leave a Reply

Your email address will not be published. Required fields are marked *

*