Tourmaline Bio (NASDAQ:TRML) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Tourmaline Bio (NASDAQ:TRML) issued its quarterly earnings data on Thursday. The company reported ($0.86) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.05, Zacks reports. The business had revenue of $0.04 million for the quarter.

Tourmaline Bio Stock Performance

TRML stock traded up $1.02 during midday trading on Friday, reaching $18.06. 213,314 shares of the company traded hands, compared to its average volume of 281,471. The business has a 50 day moving average of $15.83 and a 200-day moving average of $20.84. The firm has a market capitalization of $463.11 million, a price-to-earnings ratio of -6.40 and a beta of 2.35. Tourmaline Bio has a 52-week low of $11.87 and a 52-week high of $45.55.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wedbush lifted their price objective on Tourmaline Bio from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price target on shares of Tourmaline Bio in a research note on Wednesday, December 11th. HC Wainwright lifted their target price on Tourmaline Bio from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Friday. Lifesci Capital initiated coverage on Tourmaline Bio in a research note on Monday, February 24th. They issued an “outperform” rating and a $58.00 price target for the company. Finally, BMO Capital Markets assumed coverage on shares of Tourmaline Bio in a research report on Friday, December 6th. They set an “outperform” rating and a $50.00 price objective on the stock. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $53.14.

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.