Brokerages Set resTORbio, Inc. (TORC) PT at $29.67
Shares of resTORbio, Inc. (NASDAQ:TORC) have received an average recommendation of “Buy” from the six analysts that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $29.67.
A number of equities analysts recently commented on the company. Zacks Investment Research upgraded resTORbio from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Tuesday, July 31st. Evercore ISI restated an “in-line” rating on shares of resTORbio in a report on Wednesday, August 1st. Finally, ValuEngine upgraded resTORbio from a “hold” rating to a “buy” rating in a report on Thursday, November 1st.
resTORbio stock traded up $0.98 during midday trading on Thursday, reaching $12.71. 72,000 shares of the stock traded hands, compared to its average volume of 193,566. resTORbio has a 12-month low of $7.55 and a 12-month high of $21.10. The stock has a market capitalization of $316.92 million and a price-to-earnings ratio of -1.51.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. boosted its stake in shares of resTORbio by 10.5% in the 3rd quarter. Baillie Gifford & Co. now owns 983,618 shares of the company’s stock valued at $14,892,000 after buying an additional 93,402 shares during the period. Schroder Investment Management Group purchased a new position in shares of resTORbio in the 3rd quarter valued at about $1,216,000. BlackRock Inc. boosted its stake in shares of resTORbio by 46.8% in the 3rd quarter. BlackRock Inc. now owns 470,260 shares of the company’s stock valued at $7,119,000 after buying an additional 149,950 shares during the period. Jennison Associates LLC boosted its stake in shares of resTORbio by 95.4% in the 3rd quarter. Jennison Associates LLC now owns 2,154,230 shares of the company’s stock valued at $32,615,000 after buying an additional 1,051,944 shares during the period. Finally, Alps Advisors Inc. boosted its stake in shares of resTORbio by 22.0% in the 3rd quarter. Alps Advisors Inc. now owns 49,631 shares of the company’s stock valued at $751,000 after buying an additional 8,934 shares during the period. Institutional investors and hedge funds own 43.39% of the company’s stock.
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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