Tourmaline Bio (NASDAQ:TRML) Issues Quarterly Earnings Results

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

Tourmaline Bio Trading Up 6.0 %

Tourmaline Bio stock traded up $1.02 during mid-day trading on Friday, hitting $18.06. The company had a trading volume of 213,314 shares, compared to its average volume of 281,471. Tourmaline Bio has a 12 month low of $11.87 and a 12 month high of $45.55. The stock’s 50 day moving average price is $15.83 and its two-hundred day moving average price is $20.84. The company has a market capitalization of $463.11 million, a PE ratio of -6.40 and a beta of 2.35.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TRML. HC Wainwright boosted their price objective on shares of Tourmaline Bio from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Friday. Lifesci Capital began coverage on shares of Tourmaline Bio in a research report on Monday, February 24th. They set an “outperform” rating and a $58.00 price target on the stock. Guggenheim restated a “buy” rating on shares of Tourmaline Bio in a report on Wednesday, December 11th. BMO Capital Markets initiated coverage on Tourmaline Bio in a research report on Friday, December 6th. They issued an “outperform” rating and a $50.00 target price for the company. Finally, Wedbush raised their target price on Tourmaline Bio from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price 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.