Wedbush Comments on Tourmaline Bio FY2024 Earnings

Tourmaline Bio, Inc. (NASDAQ:TRML) – Equities research analysts at Wedbush issued their FY2024 earnings per share (EPS) estimates for shares of Tourmaline Bio in a note issued to investors on Thursday, March 6th. Wedbush analyst L. Chico expects that the company will earn ($2.78) per share for the year. Wedbush has a “Outperform” rating and a $42.00 price objective 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.

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

Tourmaline Bio Stock Up 9.4 %

Tourmaline Bio stock opened at $16.02 on Monday. The business has a 50 day moving average price of $15.91 and a two-hundred day moving average price of $20.87. The stock has a market cap of $410.80 million, a price-to-earnings ratio of -5.68 and a beta of 2.35. Tourmaline Bio has a 12 month low of $11.87 and a 12 month high of $48.31.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in shares of Tourmaline Bio in the 4th quarter worth $32,000. Tower Research Capital LLC TRC boosted its position in shares of Tourmaline Bio by 297.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company’s stock worth $33,000 after purchasing an additional 1,232 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Tourmaline Bio in the 4th quarter worth $47,000. Virtus ETF Advisers LLC bought a new position in shares of Tourmaline Bio in the 4th quarter worth $64,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Tourmaline Bio in the 3rd quarter worth $226,000. 91.89% of the stock is currently owned by institutional investors.

About Tourmaline Bio

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.