Tourmaline Bio, Inc. (NASDAQ:TRML) Given Consensus Recommendation of “Buy” by Analysts

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have been assigned a consensus rating of “Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. Seven analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $54.67.

A number of equities analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $49.00 price objective on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Lifesci Capital assumed coverage on shares of Tourmaline Bio in a research note on Monday. They set an “outperform” rating and a $58.00 price objective on the stock. Guggenheim reiterated a “buy” rating on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $25.00 target price on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Finally, BMO Capital Markets assumed coverage on shares of Tourmaline Bio in a research note on Friday, December 6th. They issued an “outperform” rating and a $50.00 target price for the company.

Tourmaline Bio Stock Performance

NASDAQ TRML opened at $12.55 on Wednesday. The firm’s 50 day moving average price is $17.35 and its 200-day moving average price is $20.92. Tourmaline Bio has a 52-week low of $11.87 and a 52-week high of $48.31. The company has a market cap of $321.82 million, a PE ratio of -4.45 and a beta of 2.32.

Institutional Investors Weigh In On Tourmaline Bio

Institutional investors have recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. purchased a new position in shares of Tourmaline Bio in the fourth quarter worth $12,168,000. Point72 Asset Management L.P. purchased a new position in shares of Tourmaline Bio in the third quarter worth $8,701,000. Pictet Asset Management Holding SA raised its holdings in shares of Tourmaline Bio by 69.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 419,883 shares of the company’s stock worth $8,515,000 after buying an additional 172,743 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in shares of Tourmaline Bio by 50.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 298,239 shares of the company’s stock worth $6,048,000 after buying an additional 100,139 shares during the last quarter. Finally, Velan Capital Investment Management LP raised its holdings in shares of Tourmaline Bio by 28.0% in the fourth quarter. Velan Capital Investment Management LP now owns 423,795 shares of the company’s stock worth $8,595,000 after buying an additional 92,605 shares during the last quarter. 91.89% of the stock is currently owned by institutional investors and hedge funds.

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.