resTORbio, Inc. (TORC) Expected to Announce Earnings of -$0.47 Per Share
Brokerages predict that resTORbio, Inc. (NASDAQ:TORC) will announce earnings of ($0.47) per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for resTORbio’s earnings, with the highest EPS estimate coming in at ($0.39) and the lowest estimate coming in at ($0.52). The business is expected to announce its next quarterly earnings results on Thursday, November 8th.
On average, analysts expect that resTORbio will report full-year earnings of ($1.86) per share for the current financial year, with EPS estimates ranging from ($2.04) to ($1.56). For the next fiscal year, analysts anticipate that the company will post earnings of ($2.38) per share, with EPS estimates ranging from ($2.75) to ($2.03). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for resTORbio.
resTORbio (NASDAQ:TORC) last posted its quarterly earnings results on Thursday, August 9th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.06).
NASDAQ:TORC opened at $13.66 on Friday. The firm has a market capitalization of $358.71 million and a price-to-earnings ratio of -1.62. resTORbio has a 12 month low of $7.55 and a 12 month high of $21.10.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of resTORbio by 76.7% during the second quarter. Bank of New York Mellon Corp now owns 21,693 shares of the company’s stock valued at $199,000 after buying an additional 9,413 shares during the last quarter. SCP Investment LP acquired a new position in shares of resTORbio during the second quarter valued at about $893,000. BlackRock Inc. grew its holdings in shares of resTORbio by 7.4% during the second quarter. BlackRock Inc. now owns 320,310 shares of the company’s stock valued at $2,930,000 after buying an additional 22,169 shares during the last quarter. Deltec Asset Management LLC acquired a new position in shares of resTORbio during the second quarter valued at about $2,509,000. Finally, Wedbush Securities Inc. acquired a new position in shares of resTORbio during the second quarter valued at about $236,000. Hedge funds and other institutional investors own 42.33% 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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