Tourmaline Bio (NASDAQ:TRML) Posts Quarterly Earnings Results

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

Tourmaline Bio Trading Up 1.3 %

TRML traded up $0.21 during midday trading on Thursday, reaching $16.48. The company’s stock had a trading volume of 26,857 shares, compared to its average volume of 277,237. The stock’s 50-day moving average is $15.83 and its 200-day moving average is $20.84. Tourmaline Bio has a 1 year low of $11.87 and a 1 year high of $46.36. The firm has a market capitalization of $422.47 million, a price-to-earnings ratio of -5.84 and a beta of 2.35.

Wall Street Analyst Weigh In

Several research firms recently commented on TRML. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 target price on shares of Tourmaline Bio in a report on Wednesday, December 11th. HC Wainwright reaffirmed a “buy” rating and set a $49.00 price objective on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Guggenheim reissued a “buy” rating on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Lifesci Capital assumed coverage on Tourmaline Bio in a research report on Monday, February 24th. They set an “outperform” rating and a $58.00 price target on the stock. Finally, BMO Capital Markets started coverage on Tourmaline Bio in a research report on Friday, December 6th. They issued an “outperform” rating and a $50.00 price objective for the company. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $52.86.

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.