Wedbush Comments on Tourmaline Bio FY2024 Earnings

Tourmaline Bio, Inc. (NASDAQ:TRML) – Research analysts at Wedbush issued their FY2024 earnings estimates for shares of Tourmaline Bio in a research report issued on Thursday, March 6th. Wedbush analyst L. Chico anticipates that the company will post earnings of ($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 equities analysts have also issued reports on the stock. Guggenheim reiterated a “buy” rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Lifesci Capital started coverage on shares of Tourmaline Bio in a report on Monday, February 24th. They issued an “outperform” rating and a $58.00 price objective for the company. BMO Capital Markets began coverage on Tourmaline Bio in a report on Friday, December 6th. They set an “outperform” rating and a $50.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $49.00 price target on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 price target on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $52.86.

Tourmaline Bio Trading Up 9.4 %

TRML opened at $16.02 on Monday. The business’s 50 day moving average is $15.91 and its 200-day moving average is $20.87. The stock has a market cap of $410.80 million, a PE ratio of -5.68 and a beta of 2.35. Tourmaline Bio has a twelve month low of $11.87 and a twelve month high of $48.31.

Institutional Trading of Tourmaline Bio

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Tourmaline Bio by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 482,078 shares of the company’s stock worth $12,396,000 after acquiring an additional 29,005 shares in the last quarter. Wellington Management Group LLP boosted its stake in Tourmaline Bio by 72.8% during the 3rd quarter. Wellington Management Group LLP now owns 65,741 shares of the company’s stock valued at $1,690,000 after purchasing an additional 27,707 shares during the period. State Street Corp boosted its stake in Tourmaline Bio by 25.6% during the 3rd quarter. State Street Corp now owns 411,980 shares of the company’s stock valued at $10,592,000 after purchasing an additional 83,949 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Tourmaline Bio by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,571 shares of the company’s stock valued at $1,634,000 after purchasing an additional 2,147 shares during the period. Finally, Barclays PLC boosted its stake in Tourmaline Bio by 283.7% during the 3rd quarter. Barclays PLC now owns 31,833 shares of the company’s stock valued at $819,000 after purchasing an additional 23,536 shares during the period. Institutional investors 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.