Tourmaline Bio, Inc. Forecasted to Post FY2024 Earnings of ($2.33) Per Share (NASDAQ:TRML)

Tourmaline Bio, Inc. (NASDAQ:TRMLFree Report) – Equities research analysts at Leerink Partnrs upped their FY2024 earnings per share (EPS) estimates for Tourmaline Bio in a report released on Monday, February 5th. Leerink Partnrs analyst T. Smith now forecasts that the company will post earnings of ($2.33) per share for the year, up from their prior forecast of ($3.02). Leerink Partnrs has a “Outperform” rating on the stock. The consensus estimate for Tourmaline Bio’s current full-year earnings is ($3.26) per share. Leerink Partnrs also issued estimates for Tourmaline Bio’s FY2025 earnings at ($2.76) EPS, FY2026 earnings at ($3.52) EPS and FY2027 earnings at ($4.82) EPS.

Tourmaline Bio (NASDAQ:TRMLGet Free Report) last announced its quarterly earnings results on Tuesday, November 14th. The company reported ($1.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.70).

Other equities analysts also recently issued research reports about the company. Jefferies Financial Group assumed coverage on Tourmaline Bio in a research report on Friday, December 15th. They issued a “buy” rating and a $41.00 target price on the stock. Truist Financial assumed coverage on Tourmaline Bio in a research report on Friday, November 17th. They issued a “buy” rating and a $43.00 target price on the stock. Piper Sandler assumed coverage on Tourmaline Bio in a research report on Wednesday, October 25th. They issued an “overweight” rating and a $65.00 target price on the stock. Guggenheim assumed coverage on Tourmaline Bio in a research report on Tuesday, October 31st. They issued a “buy” rating and a $50.00 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Tourmaline Bio in a research report on Monday, December 4th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $49.75.

View Our Latest Stock Report on TRML

Tourmaline Bio Trading Up 1.4 %

Shares of NASDAQ TRML opened at $36.75 on Thursday. The stock’s 50 day simple moving average is $28.05. The firm has a market capitalization of $747.50 million, a P/E ratio of -2.46 and a beta of 2.42. Tourmaline Bio has a twelve month low of $9.18 and a twelve month high of $40.39.

Institutional Investors Weigh In On Tourmaline Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRML. Dimensional Fund Advisors LP bought a new position in shares of Tourmaline Bio in the 4th quarter valued at $546,000. Jump Financial LLC bought a new position in shares of Tourmaline Bio in the 4th quarter valued at $380,000. Vivo Capital LLC bought a new position in shares of Tourmaline Bio in the 4th quarter valued at $15,495,000. Finally, BML Capital Management LLC bought a new position in shares of Tourmaline Bio in the 4th quarter valued at $6,427,000. 67.61% of the stock is currently owned by institutional investors.

Insider Activity at Tourmaline Bio

In related news, Director Mark Mcdade purchased 100,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was acquired at an average cost of $32.50 per share, for a total transaction of $3,250,000.00. Following the completion of the purchase, the director now owns 448,431 shares in the company, valued at approximately $14,574,007.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Tourmaline Bio news, Director Mark Mcdade bought 100,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was purchased at an average cost of $32.50 per share, for a total transaction of $3,250,000.00. Following the completion of the purchase, the director now directly owns 448,431 shares of the company’s stock, valued at $14,574,007.50. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sandeep Chidambar Kulkarni bought 4,000 shares of the business’s stock in a transaction on Friday, November 17th. The shares were acquired at an average price of $16.99 per share, with a total value of $67,960.00. Following the completion of the purchase, the chief executive officer now directly owns 729,735 shares of the company’s stock, valued at $12,398,197.65. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 105,000 shares of company stock worth $3,335,270. Company insiders own 16.50% of the company’s stock.

About Tourmaline Bio

(Get Free Report)

Tourmaline Bio, Inc operates as a clinical biotechnology company that develops medicines for patients with life-altering immune 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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