Analysts Set Expectations for Tourmaline Bio FY2024 Earnings

Tourmaline Bio, Inc. (NASDAQ:TRML) – Investment analysts at Wedbush issued their FY2024 earnings per share (EPS) estimates for shares of Tourmaline Bio in a 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.

A number of other brokerages have also issued reports on TRML. HC Wainwright reissued a “buy” rating and set a $49.00 target price on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Guggenheim reissued a “buy” rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $25.00 target price on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Lifesci Capital began coverage on Tourmaline Bio in a research note on Monday, February 24th. They set an “outperform” rating and a $58.00 price target for the company. Finally, BMO Capital Markets assumed coverage on Tourmaline Bio in a research note on Friday, December 6th. They issued an “outperform” rating and a $50.00 price target for the company. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $52.86.

Tourmaline Bio Stock Performance

Shares of TRML opened at $14.38 on Monday. The company has a market capitalization of $368.75 million, a PE ratio of -5.10 and a beta of 2.35. The company’s 50 day moving average price is $16.10 and its 200 day moving average price is $20.87. Tourmaline Bio has a 52 week low of $11.87 and a 52 week high of $48.31.

Institutional Trading of Tourmaline Bio

A number of institutional investors and hedge funds have recently made changes to their positions in TRML. Jennison Associates LLC increased its holdings in shares of Tourmaline Bio by 2.2% during the 3rd quarter. Jennison Associates LLC now owns 1,151,973 shares of the company’s stock valued at $29,617,000 after acquiring an additional 24,282 shares during the last quarter. Vanguard Group Inc. grew its holdings in Tourmaline Bio by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 1,106,125 shares of the company’s stock valued at $22,432,000 after purchasing an additional 43,652 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Tourmaline Bio during the fourth quarter valued at approximately $12,168,000. Geode Capital Management LLC raised its position in shares of Tourmaline Bio by 6.4% in the third quarter. Geode Capital Management LLC now owns 482,078 shares of the company’s stock valued at $12,396,000 after purchasing an additional 29,005 shares during the period. Finally, Velan Capital Investment Management LP lifted its stake in shares of Tourmaline Bio by 28.0% in the fourth quarter. Velan Capital Investment Management LP now owns 423,795 shares of the company’s stock worth $8,595,000 after buying an additional 92,605 shares during the last quarter. 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.