resTORbio (NASDAQ:TORC) Shares Up 9.7% Following Better-Than-Expected Earnings
resTORbio, Inc. (NASDAQ:TORC) shares shot up 9.7% during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $2.78 and last traded at $2.72, 1,172,892 shares changed hands during mid-day trading. A decline of 11% from the average session volume of 1,317,125 shares. The stock had previously closed at $2.48.
The company reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.07.
Several research analysts have recently weighed in on the company. Evercore ISI raised resTORbio from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $2.00 to $4.00 in a research note on Wednesday, April 29th. Zacks Investment Research upgraded shares of resTORbio from a “hold” rating to a “buy” rating and set a $2.50 price objective for the company in a research report on Thursday, June 18th. Finally, FIG Partners reiterated a “reduce” rating on shares of resTORbio in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. resTORbio presently has an average rating of “Hold” and an average target price of $3.17.
The firm has a 50 day moving average price of $2.34 and a 200-day moving average price of $1.69. The firm has a market cap of $90.76 million, a PE ratio of -1.38 and a beta of 2.59.
resTORbio Company Profile (NASDAQ:TORC)
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.
Recommended Story: Limitations of the P/E Growth ratio
Receive News & Ratings for resTORbio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for resTORbio and related companies with MarketBeat.com's FREE daily email newsletter.