Tourmaline Bio, Inc. (NASDAQ:TRML) Receives Consensus Rating of “Buy” from Analysts

Tourmaline Bio, Inc. (NASDAQ:TRML) has earned an average rating of “Buy” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $50.00.

Several equities research analysts have issued reports on TRML shares. Wedbush boosted their price objective on shares of Tourmaline Bio from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, March 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 price target on shares of Tourmaline Bio in a research report on Wednesday, December 11th. BMO Capital Markets assumed coverage on Tourmaline Bio in a research report on Friday, December 6th. They issued an “outperform” rating and a $50.00 price objective on the stock. HC Wainwright upped their target price on Tourmaline Bio from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Finally, Lifesci Capital initiated coverage on Tourmaline Bio in a report on Monday, February 24th. They set an “outperform” rating and a $58.00 target price on the stock.

Tourmaline Bio Trading Up 2.4 %

Shares of TRML opened at $16.88 on Friday. The stock’s fifty day simple moving average is $15.45 and its 200 day simple moving average is $20.83. Tourmaline Bio has a twelve month low of $11.87 and a twelve month high of $30.00. The firm has a market capitalization of $432.85 million, a P/E ratio of -5.99 and a beta of 2.35.

Tourmaline Bio (NASDAQ:TRML) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.86) earnings per share for the quarter, beating the consensus estimate of ($0.91) by $0.05. The firm had revenue of $0.04 million during the quarter. Sell-side analysts predict that Tourmaline Bio will post -3.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TRML. Adage Capital Partners GP L.L.C. purchased a new stake in Tourmaline Bio during the 4th quarter worth approximately $12,168,000. Point72 Asset Management L.P. bought a new stake in shares of Tourmaline Bio in the third quarter worth $8,701,000. Pictet Asset Management Holding SA raised its holdings in Tourmaline Bio by 69.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 419,883 shares of the company’s stock valued at $8,515,000 after acquiring an additional 172,743 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in Tourmaline Bio by 50.5% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 298,239 shares of the company’s stock valued at $6,048,000 after acquiring an additional 100,139 shares during the last quarter. Finally, Velan Capital Investment Management LP boosted its stake in Tourmaline Bio by 28.0% during the 4th quarter. Velan Capital Investment Management LP now owns 423,795 shares of the company’s stock valued at $8,595,000 after acquiring an additional 92,605 shares during the last quarter. Institutional investors and hedge funds own 91.89% of the company’s stock.

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.