Lifesci Capital Predicts Tourmaline Bio FY2024 Earnings

Tourmaline Bio, Inc. (NASDAQ:TRML) – Lifesci Capital issued their FY2024 earnings per share (EPS) estimates for Tourmaline Bio in a report issued on Monday, February 24th. Lifesci Capital analyst R. Katkhuda expects that the company will post earnings of ($2.89) per share for the year. Lifesci Capital currently has a “Outperform” rating and a $58.00 price target on the stock. The consensus estimate for Tourmaline Bio’s current full-year earnings is ($3.02) per share. Lifesci Capital also issued estimates for Tourmaline Bio’s Q4 2024 earnings at ($0.88) EPS.

TRML has been the subject of several other research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 target price on shares of Tourmaline Bio in a research report on Wednesday, December 11th. HC Wainwright reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Tourmaline Bio in a 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 target on the stock. Finally, Guggenheim reiterated a “buy” rating on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Tourmaline Bio presently has a consensus rating of “Buy” and an average target price of $54.67.

Tourmaline Bio Stock Performance

NASDAQ:TRML opened at $12.94 on Wednesday. The stock has a market cap of $331.82 million, a price-to-earnings ratio of -4.59 and a beta of 2.32. The business’s 50-day simple moving average is $17.21 and its 200 day simple moving average is $20.87. Tourmaline Bio has a one year low of $11.87 and a one year high of $48.31.

Hedge Funds Weigh In On Tourmaline Bio

Several hedge funds have recently made changes to their positions in the business. Jennison Associates LLC grew its position in Tourmaline Bio by 2.2% in the third quarter. Jennison Associates LLC now owns 1,151,973 shares of the company’s stock worth $29,617,000 after buying an additional 24,282 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Tourmaline Bio by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 1,106,125 shares of the company’s stock worth $22,432,000 after acquiring an additional 43,652 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in shares of Tourmaline Bio in the 4th quarter worth $12,168,000. Geode Capital Management LLC grew its holdings in shares of Tourmaline Bio by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 482,078 shares of the company’s stock worth $12,396,000 after acquiring an additional 29,005 shares during the last quarter. Finally, Velan Capital Investment Management LP grew its holdings in shares of Tourmaline Bio by 28.0% in the 4th quarter. Velan Capital Investment Management LP now owns 423,795 shares of the company’s stock worth $8,595,000 after acquiring an additional 92,605 shares during the last quarter. Institutional investors and hedge funds 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.