FY2024 EPS Estimate for Tourmaline Bio Decreased by Analyst

Tourmaline Bio, Inc. (NASDAQ:TRML) – Equities research analysts at HC Wainwright cut their FY2024 EPS estimates for shares of Tourmaline Bio in a note issued to investors on Monday, November 11th. HC Wainwright analyst Y. Chen now forecasts that the company will earn ($2.85) per share for the year, down from their previous estimate 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.

Separately, Cantor Fitzgerald raised shares of Tourmaline Bio to a “strong-buy” rating in a research report on Tuesday, October 15th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $65.00.

Tourmaline Bio Stock Performance

Shares of NASDAQ:TRML opened at $26.88 on Thursday. The firm has a market capitalization of $689.20 million, a P/E ratio of -9.53 and a beta of 2.36. The stock has a 50 day moving average price of $25.06 and a 200-day moving average price of $18.43. Tourmaline Bio has a 52-week low of $12.12 and a 52-week high of $48.31.

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

Institutional Investors Weigh In On Tourmaline Bio

Institutional investors and hedge funds have recently made changes to their positions in the company. Avoro Capital Advisors LLC lifted its holdings in shares of Tourmaline Bio by 155.9% during the first quarter. Avoro Capital Advisors LLC now owns 2,222,222 shares of the company’s stock valued at $50,889,000 after purchasing an additional 1,353,815 shares in the last quarter. Darwin Global Management Ltd. purchased a new position in shares of Tourmaline Bio in the 1st quarter worth $10,648,000. StemPoint Capital LP bought a new stake in shares of Tourmaline Bio in the first quarter worth $6,280,000. Blue Owl Capital Holdings LP grew its holdings in shares of Tourmaline Bio by 18.5% in the second quarter. Blue Owl Capital Holdings LP now owns 1,715,401 shares of the company’s stock worth $22,060,000 after acquiring an additional 268,000 shares during the period. Finally, Artal Group S.A. increased its position in Tourmaline Bio by 244.0% during the first quarter. Artal Group S.A. now owns 314,496 shares of the company’s stock valued at $7,202,000 after acquiring an additional 223,070 shares during the last quarter. 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.