FY2024 EPS Estimates for Tourmaline Bio Decreased by Analyst

Tourmaline Bio, Inc. (NASDAQ:TRML) – Stock analysts at HC Wainwright lowered their FY2024 earnings estimates for Tourmaline Bio in a research report issued on Monday, November 11th. HC Wainwright analyst Y. Chen now forecasts that the company will post earnings per share of ($2.85) for the year, down from their previous forecast of ($2.79). HC Wainwright has a “Buy” rating and a $49.00 price objective on the stock. The consensus estimate for Tourmaline Bio’s current full-year earnings is ($3.05) 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 posted its earnings results on Thursday, November 7th. The company reported ($0.78) earnings per share for the quarter, beating the consensus estimate of ($0.84) by $0.06.

Separately, Cantor Fitzgerald raised shares of Tourmaline Bio to a “strong-buy” rating in a research note on Tuesday, October 15th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $65.00.

Tourmaline Bio Price Performance

Shares of Tourmaline Bio stock opened at $26.26 on Thursday. The stock has a market capitalization of $673.31 million, a price-to-earnings ratio of -9.31 and a beta of 2.36. The business has a 50-day moving average of $24.84 and a 200 day moving average of $18.37. Tourmaline Bio has a 12 month low of $12.12 and a 12 month high of $48.31.

Hedge Funds Weigh In On Tourmaline Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new stake in shares of Tourmaline Bio in the 1st quarter valued at approximately $31,000. Swiss National Bank purchased a new stake in shares of Tourmaline Bio during the 1st quarter worth $733,000. Vanguard Group Inc. grew its stake in shares of Tourmaline Bio by 19.7% during the 1st quarter. Vanguard Group Inc. now owns 914,519 shares of the company’s stock worth $20,942,000 after purchasing an additional 150,767 shares during the period. StemPoint Capital LP purchased a new position in shares of Tourmaline Bio in the 1st quarter valued at about $6,280,000. Finally, Nan Fung Group Holdings Ltd acquired a new stake in shares of Tourmaline Bio in the first quarter valued at about $481,000. Institutional investors and hedge funds own 91.89% of the company’s stock.

Insider Activity at Tourmaline Bio

In related news, CEO Sandeep Chidambar Kulkarni purchased 5,221 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were purchased at an average price of $13.79 per share, with a total value of $71,997.59. Following the completion of the acquisition, the chief executive officer now directly owns 5,221 shares in the company, valued at $71,997.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 11.02% of the stock is owned by corporate insiders.

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.