Tourmaline Bio, Inc. to Post Q1 2024 Earnings of ($0.55) Per Share, Leerink Partnrs Forecasts (NASDAQ:TRML)

Tourmaline Bio, Inc. (NASDAQ:TRMLFree Report) – Research analysts at Leerink Partnrs boosted their Q1 2024 earnings per share estimates for shares of Tourmaline Bio in a report issued on Tuesday, March 19th. Leerink Partnrs analyst T. Smith now forecasts that the company will post earnings per share of ($0.55) for the quarter, up from their previous forecast of ($0.62). Leerink Partnrs currently has a “Outperform” rating on the stock. The consensus estimate for Tourmaline Bio’s current full-year earnings is ($3.00) per share. Leerink Partnrs also issued estimates for Tourmaline Bio’s Q2 2024 earnings at ($0.50) EPS, Q3 2024 earnings at ($0.54) EPS, Q4 2024 earnings at ($0.59) EPS, FY2024 earnings at ($2.18) EPS, FY2025 earnings at ($3.22) EPS, FY2026 earnings at ($4.14) EPS, FY2027 earnings at ($5.42) EPS and FY2028 earnings at ($3.39) EPS.

A number of other research firms have also recently weighed in on TRML. Jefferies Financial Group boosted their target price on shares of Tourmaline Bio from $41.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $48.00 price objective on shares of Tourmaline Bio in a research note on Wednesday. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $55.60.

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Tourmaline Bio Price Performance

TRML opened at $28.61 on Friday. Tourmaline Bio has a fifty-two week low of $9.18 and a fifty-two week high of $48.31. The firm’s 50-day moving average is $37.59.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. purchased a new position in Tourmaline Bio during the fourth quarter worth about $236,000. Jump Financial LLC bought a new position in shares of Tourmaline Bio in the fourth quarter worth approximately $380,000. Cubist Systematic Strategies LLC purchased a new stake in Tourmaline Bio in the fourth quarter valued at approximately $399,000. Dimensional Fund Advisors LP bought a new stake in Tourmaline Bio during the fourth quarter valued at approximately $546,000. Finally, Northern Trust Corp purchased a new position in Tourmaline Bio in the 4th quarter worth approximately $586,000. Institutional investors own 67.61% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mark Mcdade purchased 100,000 shares of the stock in a transaction dated Monday, January 29th. The shares were purchased at an average cost of $32.50 per share, with a total value of $3,250,000.00. Following the completion of the acquisition, 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 SEC, which is available at this link. 16.50% of the stock is owned by corporate insiders.

Tourmaline Bio Company Profile

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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.

Further Reading

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