Wedbush Predicts Tourmaline Bio FY2024 Earnings

Tourmaline Bio, Inc. (NASDAQ:TRML) – Analysts at Wedbush issued their FY2024 EPS estimates for shares of Tourmaline Bio in a research note issued on Thursday, March 6th. Wedbush analyst L. Chico expects that the company will post earnings per share of ($2.78) 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 analysts have also recently issued research reports about the stock. Lifesci Capital assumed coverage on shares of Tourmaline Bio in a research report on Monday, February 24th. They set an “outperform” rating and a $58.00 price target on the stock. BMO Capital Markets initiated coverage on Tourmaline Bio in a research report on Friday, December 6th. They set an “outperform” rating and a $50.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $49.00 target price on shares of Tourmaline Bio in a report on Wednesday, December 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 price objective on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Finally, Guggenheim reiterated a “buy” rating on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $52.86.

Tourmaline Bio Stock Performance

NASDAQ:TRML opened at $14.65 on Monday. Tourmaline Bio has a 52 week low of $11.87 and a 52 week high of $48.31. The firm’s fifty day moving average is $16.00 and its 200-day moving average is $20.87. The firm has a market cap of $375.67 million, a P/E ratio of -5.20 and a beta of 2.35.

Hedge Funds Weigh In On Tourmaline Bio

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

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.