Tourmaline Bio (NASDAQ:TRML) Posts Earnings Results, Beats Expectations By $0.05 EPS

Tourmaline Bio (NASDAQ:TRML) announced its quarterly earnings results on Thursday. The company reported ($0.86) earnings per share for the quarter, beating the consensus estimate of ($0.91) by $0.05, Zacks reports.

Tourmaline Bio Price Performance

Shares of TRML stock traded up $0.21 during trading hours on Thursday, reaching $16.48. 26,857 shares of the company traded hands, compared to its average volume of 277,237. The firm has a 50-day moving average price of $15.83 and a 200 day moving average price of $20.84. The company has a market cap of $422.47 million, a P/E ratio of -5.84 and a beta of 2.35. Tourmaline Bio has a 12-month low of $11.87 and a 12-month high of $46.36.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Guggenheim restated a “buy” rating on shares of Tourmaline Bio in a research note on Wednesday, December 11th. BMO Capital Markets initiated coverage on Tourmaline Bio in a report on Friday, December 6th. They issued an “outperform” rating and a $50.00 price objective for the company. Wedbush assumed coverage on Tourmaline Bio in a report on Thursday, March 6th. They issued an “outperform” rating and a $42.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $49.00 price target on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price objective on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $52.86.

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.