Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) - Stock analysts at HC Wainwright dropped their FY2024 earnings per share estimates for shares of Tourmaline Bio in a research report issued on Monday, November 11th. HC Wainwright analyst Y. Chen now forecasts that the company will post earnings per share of ($2.85) for the year, down from their prior forecast of ($2.79). HC Wainwright currently has a "Buy" rating and a $49.00 price objective on the stock. The consensus estimate for Tourmaline Bio's current full-year earnings is ($3.05) per share. HC Wainwright also issued estimates for Tourmaline Bio's Q4 2024 earnings at ($0.82) EPS, Q1 2025 earnings at ($0.85) EPS, Q2 2025 earnings at ($0.86) EPS, Q3 2025 earnings at ($0.86) EPS and FY2025 earnings at ($3.43) EPS.
Tourmaline Bio (NASDAQ:TRML - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.78) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.06.
Separately, Cantor Fitzgerald raised Tourmaline Bio to a "strong-buy" rating in a research report on Tuesday, October 15th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $65.00.
Check Out Our Latest Research Report on TRML
Tourmaline Bio Stock Up 2.7 %
TRML stock traded up $0.72 on Thursday, reaching $26.98. 95,834 shares of the company's stock were exchanged, compared to its average volume of 300,328. The stock has a fifty day moving average of $24.84 and a 200-day moving average of $18.37. The firm has a market cap of $691.77 million, a PE ratio of -9.31 and a beta of 2.36. Tourmaline Bio has a twelve month low of $12.12 and a twelve month high of $48.31.
Insiders Place Their Bets
In related news, CEO Sandeep Chidambar Kulkarni bought 5,221 shares of the business's stock in a transaction on Friday, August 16th. The stock was bought at an average price of $13.79 per share, for a total transaction of $71,997.59. Following the transaction, the chief executive officer now directly owns 5,221 shares in the company, valued at $71,997.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 11.02% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Tourmaline Bio
Several hedge funds and other institutional investors have recently modified their holdings of TRML. BNP Paribas Financial Markets acquired a new position in Tourmaline Bio during the 1st quarter valued at $31,000. China Universal Asset Management Co. Ltd. raised its stake in Tourmaline Bio by 63.7% during 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 last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Tourmaline Bio by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,571 shares of the company's stock valued at $1,634,000 after buying an additional 2,147 shares in the last quarter. Quest Partners LLC raised its stake in shares of Tourmaline Bio by 134.0% in the 2nd quarter. Quest Partners LLC now owns 3,822 shares of the company's stock valued at $49,000 after buying an additional 2,189 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Tourmaline Bio in the 3rd quarter valued at $226,000. Institutional investors and hedge funds own 91.89% of the company's stock.
About Tourmaline Bio
(
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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.
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