Tourmaline Bio (NASDAQ:TRML) Announces Earnings Results

Tourmaline Bio (NASDAQ:TRML) posted its quarterly earnings results on Thursday. The company reported ($0.68) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.04, Zacks reports.

Tourmaline Bio Trading Down 3.9 %

Tourmaline Bio stock opened at $13.97 on Friday. The firm has a market capitalization of $358.29 million, a price-to-earnings ratio of -2.15 and a beta of 2.31. The firm’s fifty day moving average price is $14.80 and its two-hundred day moving average price is $22.72. Tourmaline Bio has a 1-year low of $9.18 and a 1-year high of $48.31.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and issued a $48.00 target price on shares of Tourmaline Bio in a research note on Tuesday, May 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $61.80.

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.