Tourmaline Bio (NASDAQ:TRML) Earns Outperform Rating from Analysts at BMO Capital Markets

Equities researchers at BMO Capital Markets initiated coverage on shares of Tourmaline Bio (NASDAQ:TRML) in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $50.00 price target on the stock. BMO Capital Markets’ target price points to a potential upside of 92.83% from the company’s current price.

Several other analysts have also weighed in on the company. Cantor Fitzgerald raised Tourmaline Bio to a “strong-buy” rating in a report on Tuesday, October 15th. HC Wainwright raised their price objective on shares of Tourmaline Bio from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $61.25.

Tourmaline Bio Trading Up 7.9 %

Shares of TRML stock opened at $25.93 on Friday. The firm has a market capitalization of $664.92 million, a P/E ratio of -9.20 and a beta of 2.32. Tourmaline Bio has a 1 year low of $12.12 and a 1 year high of $48.31. The firm’s fifty day simple moving average is $26.27 and its 200 day simple moving average is $19.51.

Tourmaline Bio (NASDAQ:TRML) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.78) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.84) by $0.06. Equities research analysts anticipate that Tourmaline Bio will post -3.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Tourmaline Bio

Several institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in Tourmaline Bio by 283.7% during the 3rd quarter. Barclays PLC now owns 31,833 shares of the company’s stock valued at $819,000 after purchasing an additional 23,536 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Tourmaline Bio by 6.4% during the third quarter. Geode Capital Management LLC now owns 482,078 shares of the company’s stock worth $12,396,000 after purchasing an additional 29,005 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Tourmaline Bio by 211.3% in the third quarter. Jane Street Group LLC now owns 21,705 shares of the company’s stock valued at $558,000 after buying an additional 41,205 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Tourmaline Bio by 72.8% in the third quarter. Wellington Management Group LLP now owns 65,741 shares of the company’s stock valued at $1,690,000 after buying an additional 27,707 shares during the last quarter. Finally, State Street Corp lifted its position in Tourmaline Bio by 25.6% during the 3rd quarter. State Street Corp now owns 411,980 shares of the company’s stock worth $10,592,000 after buying an additional 83,949 shares in the last quarter. 91.89% of the stock is owned by institutional investors.

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.