resTORbio (NASDAQ:TORC) Announces Earnings Results
resTORbio (NASDAQ:TORC) issued its quarterly earnings results on Wednesday. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.12), Fidelity Earnings reports.
TORC stock traded up $0.76 on Thursday, reaching $10.10. The company’s stock had a trading volume of 1,064 shares, compared to its average volume of 213,002. The company has a fifty day moving average price of $10.13. resTORbio has a 12-month low of $6.21 and a 12-month high of $16.66. The stock has a market capitalization of $331.34 million, a price-to-earnings ratio of -6.90 and a beta of 3.26.
A number of analysts have recently weighed in on TORC shares. Guggenheim started coverage on resTORbio in a research note on Tuesday, June 4th. They set a “buy” rating and a $28.00 price objective for the company. Zacks Investment Research lowered resTORbio from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $19.50.
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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