Leerink Partnrs Comments on Tourmaline Bio FY2024 Earnings

Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) - Research analysts at Leerink Partnrs lifted their FY2024 earnings per share estimates for Tourmaline Bio in a research note issued on Wednesday, February 5th. Leerink Partnrs analyst T. Smith now anticipates that the company will post earnings per share of ($2.83) for the year, up from their previous estimate of ($2.86). The consensus estimate for Tourmaline Bio's current full-year earnings is ($2.99) per share. Leerink Partnrs also issued estimates for Tourmaline Bio's FY2025 earnings at ($3.63) EPS, FY2026 earnings at ($3.72) EPS, FY2027 earnings at ($5.27) EPS and FY2028 earnings at ($6.18) EPS.

Several other research analysts have also recently issued reports on TRML. Guggenheim reaffirmed a "buy" rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. HC Wainwright reaffirmed a "buy" rating and set a $49.00 price objective on shares of Tourmaline Bio in a research note on Wednesday, December 11th. BMO Capital Markets began coverage on Tourmaline Bio in a research note on Friday, December 6th. They set an "outperform" rating and a $50.00 target price for the company. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $25.00 price target on shares of Tourmaline Bio in a report on Wednesday, December 11th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $54.00.

Tourmaline Bio Price Performance

Tourmaline Bio stock traded down $0.14 during trading on Monday, reaching $13.09. 259,728 shares of the company were exchanged, compared to its average volume of 303,217. Tourmaline Bio has a 52-week low of $12.12 and a 52-week high of $48.31. The company has a market capitalization of $335.63 million, a P/E ratio of -4.64 and a beta of 2.32. The stock's 50 day simple moving average is $19.07 and its two-hundred day simple moving average is $20.99.

Institutional Trading of Tourmaline Bio

A number of hedge funds and other institutional investors have recently modified their holdings of TRML. Brooklyn Investment Group bought a new stake in Tourmaline Bio in the 4th quarter valued at $32,000. KLP Kapitalforvaltning AS acquired a new position in Tourmaline Bio in the 4th quarter valued at about $47,000. China Universal Asset Management Co. Ltd. boosted its holdings in Tourmaline Bio by 63.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company's stock valued at $127,000 after purchasing an additional 1,920 shares during the period. The Manufacturers Life Insurance Company bought a new stake in Tourmaline Bio in the 3rd quarter valued at about $226,000. Finally, Quest Partners LLC boosted its holdings in Tourmaline Bio by 145.4% in the 3rd quarter. Quest Partners LLC now owns 9,381 shares of the company's stock valued at $241,000 after purchasing an additional 5,559 shares during the period. Institutional investors and hedge funds own 91.89% of the company's stock.

Tourmaline Bio Company Profile

Tourmaline Bio, Inc operates as a clinical biotechnology company that develops medicines for patients with life-altering immune and inflammatory diseases. It develops TOUR006, a human anti-IL-6 monoclonal antibody that selectively binds to interleukin-6, a key proinflammatory cytokine involved in the pathogenesis of many autoimmune and inflammatory disorders.