Leerink Partnrs Comments on Tourmaline Bio FY2024 Earnings

Tourmaline Bio, Inc. (NASDAQ:TRML) – Equities research analysts at Leerink Partnrs raised their FY2024 earnings per share estimates for Tourmaline Bio in a note issued to investors on Wednesday, February 5th. Leerink Partnrs analyst T. Smith now expects that the company will post earnings per share of ($2.83) for the year, up from their previous estimate of ($2.86). The consensus estimate for Tourmaline Bio’s current full-year earnings is ($2.99) per share. Leerink Partnrs also issued estimates for Tourmaline Bio’s FY2025 earnings at ($3.63) EPS, FY2026 earnings at ($3.72) EPS, FY2027 earnings at ($5.27) EPS and FY2028 earnings at ($6.18) EPS.

Other equities research analysts also recently issued research reports about the company. HC Wainwright restated a “buy” rating and set a $49.00 price target on shares of Tourmaline Bio in a research report on Wednesday, December 11th. BMO Capital Markets began coverage on Tourmaline Bio in a report on Friday, December 6th. They set an “outperform” rating and a $50.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $25.00 target price on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Finally, Guggenheim reiterated a “buy” rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $54.00.

Tourmaline Bio Stock Performance

NASDAQ TRML opened at $13.92 on Monday. Tourmaline Bio has a 52-week low of $12.12 and a 52-week high of $48.31. The company has a fifty day moving average of $19.77 and a 200-day moving average of $21.13. The company has a market capitalization of $356.91 million, a P/E ratio of -4.94 and a beta of 2.32.

Institutional Investors Weigh In On Tourmaline Bio

Several institutional investors have recently bought and sold shares of the stock. Brooklyn Investment Group purchased a new position in Tourmaline Bio in the 4th quarter worth approximately $32,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Tourmaline Bio by 63.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company’s stock worth $127,000 after purchasing an additional 1,920 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Tourmaline Bio in the third quarter worth $226,000. Quest Partners LLC raised its holdings in Tourmaline Bio by 145.4% during the 3rd quarter. Quest Partners LLC now owns 9,381 shares of the company’s stock valued at $241,000 after buying an additional 5,559 shares during the last quarter. Finally, MetLife Investment Management LLC purchased a new stake in Tourmaline Bio during the 3rd quarter valued at $357,000. 91.89% of the stock is currently owned by hedge funds and other institutional investors.

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.