Cantor Fitzgerald Predicts Tourmaline Bio FY2024 Earnings

Tourmaline Bio, Inc. (NASDAQ:TRML) – Stock analysts at Cantor Fitzgerald issued their FY2024 earnings estimates for Tourmaline Bio in a research note issued to investors on Tuesday, October 15th. Cantor Fitzgerald analyst J. Schimmer forecasts that the company will post earnings of ($2.85) per share for the year. Cantor Fitzgerald currently has a “Strong-Buy” rating on the stock. The consensus estimate for Tourmaline Bio’s current full-year earnings is ($3.12) per share.

Separately, HC Wainwright reissued a “buy” rating and issued a $48.00 price objective on shares of Tourmaline Bio in a research report on Monday, August 12th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $61.80.

Tourmaline Bio Trading Up 4.8 %

NASDAQ TRML opened at $29.13 on Thursday. The firm’s fifty day moving average price is $20.31 and its two-hundred day moving average price is $17.29. Tourmaline Bio has a 1 year low of $9.18 and a 1 year high of $48.31. The firm has a market capitalization of $746.89 million, a P/E ratio of -7.92 and a beta of 2.37.

Tourmaline Bio (NASDAQ:TRML) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.04.

Insider Activity

In related news, CEO Sandeep Chidambar Kulkarni acquired 5,221 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were bought at an average cost of $13.79 per share, with a total value of $71,997.59. Following the completion of the transaction, the chief executive officer now directly owns 5,221 shares of the company’s stock, valued at $71,997.59. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 11.02% of the company’s stock.

Institutional Investors Weigh In On Tourmaline Bio

A number of large investors have recently bought and sold shares of TRML. BNP Paribas Financial Markets acquired a new stake in Tourmaline Bio during the first quarter worth about $31,000. Quest Partners LLC lifted its holdings in shares of Tourmaline Bio by 134.0% in the second quarter. Quest Partners LLC now owns 3,822 shares of the company’s stock worth $49,000 after acquiring an additional 2,189 shares during the last quarter. Denali Advisors LLC bought a new position in shares of Tourmaline Bio in the first quarter worth about $128,000. Janus Henderson Group PLC bought a new position in shares of Tourmaline Bio in the first quarter worth about $266,000. Finally, California State Teachers Retirement System bought a new position in shares of Tourmaline Bio in the first quarter worth about $334,000. 91.89% of the stock is currently 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.