FY2024 EPS Estimates for Tourmaline Bio Lowered by Analyst

Tourmaline Bio, Inc. (NASDAQ:TRML) – Investment analysts at HC Wainwright dropped their FY2024 earnings per share estimates for shares of Tourmaline Bio in a research report issued to clients and investors on Monday, November 11th. HC Wainwright analyst Y. Chen now forecasts that the company will post earnings of ($2.85) per share for the year, down from their prior forecast of ($2.79). HC Wainwright currently has a “Buy” rating and a $49.00 target price on the stock. The consensus estimate for Tourmaline Bio’s current full-year earnings is ($3.08) per share. HC Wainwright also issued estimates for Tourmaline Bio’s Q4 2024 earnings at ($0.82) EPS, Q1 2025 earnings at ($0.85) EPS, Q2 2025 earnings at ($0.86) EPS, Q3 2025 earnings at ($0.86) EPS and FY2025 earnings at ($3.43) EPS.

Tourmaline Bio (NASDAQ:TRML) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.78) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.06.

Separately, Cantor Fitzgerald upgraded Tourmaline Bio to a “strong-buy” rating in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $65.00.

Tourmaline Bio Trading Down 5.7 %

NASDAQ:TRML opened at $25.36 on Thursday. The stock has a market capitalization of $650.23 million, a PE ratio of -8.99 and a beta of 2.36. The firm’s 50 day moving average is $25.26 and its 200 day moving average is $18.50. Tourmaline Bio has a 12 month low of $12.12 and a 12 month high of $48.31.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets bought a new stake in Tourmaline Bio during the first quarter valued at approximately $31,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Tourmaline Bio by 63.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company’s stock worth $127,000 after acquiring an additional 1,920 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Tourmaline Bio by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 63,571 shares of the company’s stock worth $1,634,000 after acquiring an additional 2,147 shares in the last quarter. Quest Partners LLC increased its stake in Tourmaline Bio by 134.0% in the second quarter. Quest Partners LLC now owns 3,822 shares of the company’s stock valued at $49,000 after acquiring an additional 2,189 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in Tourmaline Bio during the third quarter valued at about $226,000. Hedge funds and other institutional investors own 91.89% of the company’s stock.

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.