Wedbush Forecasts Tourmaline Bio FY2024 Earnings

Tourmaline Bio, Inc. (NASDAQ:TRML - Free Report) - Equities research analysts at Wedbush issued their FY2024 EPS estimates for Tourmaline Bio in a research report issued on Thursday, March 6th. Wedbush analyst L. Chico expects that the company will earn ($2.78) per share for the year. Wedbush currently has a "Outperform" rating and a $42.00 target price on the stock. The consensus estimate for Tourmaline Bio's current full-year earnings is ($3.02) per share. Wedbush also issued estimates for Tourmaline Bio's Q4 2024 earnings at ($0.75) EPS, Q1 2025 earnings at ($0.85) EPS, Q2 2025 earnings at ($0.90) EPS, Q3 2025 earnings at ($0.74) EPS, Q4 2025 earnings at ($0.80) EPS, FY2025 earnings at ($3.27) EPS, FY2026 earnings at ($0.38) EPS, FY2027 earnings at ($4.54) EPS, FY2028 earnings at ($5.30) EPS and FY2029 earnings at ($3.35) EPS.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $0.05.

A number of other research firms have also weighed in on TRML. HC Wainwright reissued a "buy" rating and set a $49.00 target price on shares of Tourmaline Bio in a report on Wednesday, December 11th. Guggenheim reissued a "buy" rating on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Cantor Fitzgerald reiterated an "overweight" rating and set a $25.00 target price on shares of Tourmaline Bio in a research report on Wednesday, December 11th. BMO Capital Markets started coverage on shares of Tourmaline Bio in a research report on Friday, December 6th. They issued an "outperform" rating and a $50.00 price target on the stock. Finally, Lifesci Capital initiated coverage on shares of Tourmaline Bio in a research note on Monday, February 24th. They set an "outperform" rating and a $58.00 target price on the stock. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $52.86.

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Tourmaline Bio Stock Up 4.6 %

Shares of NASDAQ:TRML traded up $0.76 during midday trading on Monday, reaching $17.03. The company had a trading volume of 204,110 shares, compared to its average volume of 280,730. The stock has a market cap of $436.57 million, a PE ratio of -6.07 and a beta of 2.35. Tourmaline Bio has a 1-year low of $11.87 and a 1-year high of $46.36. The business's 50 day moving average price is $15.83 and its 200 day moving average price is $20.84.

Institutional Investors Weigh In On Tourmaline Bio

Several large investors have recently made changes to their positions in the business. Brooklyn Investment Group purchased a new position in Tourmaline Bio in the 4th quarter valued at approximately $32,000. Tower Research Capital LLC TRC increased its holdings in Tourmaline Bio by 297.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company's stock valued at $33,000 after purchasing an additional 1,232 shares during the period. KLP Kapitalforvaltning AS bought a new position in Tourmaline Bio in the fourth quarter worth about $47,000. Virtus ETF Advisers LLC bought a new position in shares of Tourmaline Bio in the 4th quarter worth about $64,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Tourmaline Bio in the 3rd quarter worth about $226,000. 91.89% of the stock is owned by hedge funds and other institutional investors.

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.