Research analysts at Wedbush initiated coverage on shares of resTORbio (NASDAQ:TORC) in a report issued on Tuesday, February 20th, Marketbeat.com reports. The brokerage set an “outperform” rating and a $30.00 price target on the stock. Wedbush’s price target suggests a potential upside of 98.94% from the stock’s current price. Wedbush also issued estimates for resTORbio’s Q4 2017 earnings at ($1.03) EPS, FY2017 earnings at ($2.34) EPS, Q1 2018 earnings at ($0.34) EPS, Q2 2018 earnings at ($0.40) EPS, Q3 2018 earnings at ($0.46) EPS, Q4 2018 earnings at ($0.51) EPS, FY2018 earnings at ($1.70) EPS, Q1 2019 earnings at ($0.49) EPS, Q2 2019 earnings at ($0.53) EPS, Q3 2019 earnings at ($0.57) EPS, Q4 2019 earnings at ($0.59) EPS, FY2019 earnings at ($2.18) EPS, FY2020 earnings at ($2.60) EPS, FY2021 earnings at ($3.07) EPS and FY2022 earnings at ($1.66) EPS.
A number of other equities analysts also recently issued reports on the stock. Evercore ISI initiated coverage on shares of resTORbio in a report on Tuesday, February 20th. They set an “outperform” rating and a $28.00 price objective on the stock. Bank of America started coverage on shares of resTORbio in a report on Tuesday, February 20th. They set a “buy” rating and a $23.00 price objective on the stock.
resTORbio (TORC) traded down $0.37 during midday trading on Tuesday, reaching $15.08. 247,804 shares of the company traded hands, compared to its average volume of 115,397. resTORbio has a twelve month low of $14.56 and a twelve month high of $21.10.
In other news, major shareholder Puretech Health Llc acquired 233,333 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were acquired at an average cost of $15.00 per share, for a total transaction of $3,499,995.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Orbimed Advisors Llc purchased 533,333 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were bought at an average price of $15.00 per share, for a total transaction of $7,999,995.00. The disclosure for this purchase can be found here.
resTORbio Company Profile
resTORbio, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of novel therapeutics for the treatment of aging-related diseases. It focuses on the mechanistic target of rapamycin (mTOR) pathway that regulates aging, and specifically on selective inhibition of the target of rapamycin complex 1 (TORC1).
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