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

Tourmaline Bio, Inc. (NASDAQ:TRML) has been given an average recommendation of “Buy” by the six research firms that are presently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have issued a report on the stock in the last year is $54.00.

A number of equities analysts recently issued reports on TRML shares. Cantor Fitzgerald restated an “overweight” rating and issued a $25.00 target price on shares of Tourmaline Bio in a report on Wednesday, December 11th. BMO Capital Markets started coverage on Tourmaline Bio in a report on Friday, December 6th. They issued an “outperform” rating and a $50.00 target price on the stock. Guggenheim restated a “buy” rating on shares of Tourmaline Bio in a report on Wednesday, December 11th. Finally, HC Wainwright restated a “buy” rating and issued a $49.00 target price on shares of Tourmaline Bio in a report on Wednesday, December 11th.

Tourmaline Bio Stock Performance

TRML opened at $17.54 on Friday. Tourmaline Bio has a one year low of $12.12 and a one year high of $48.31. The stock’s fifty day moving average is $21.67 and its 200-day moving average is $21.00. The company has a market capitalization of $449.78 million, a PE ratio of -6.22 and a beta of 2.36.

Tourmaline Bio (NASDAQ:TRML) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.78) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.06. On average, equities research analysts forecast that Tourmaline Bio will post -2.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Brooklyn Investment Group acquired a new stake in Tourmaline Bio during the fourth quarter valued at $32,000. China Universal Asset Management Co. Ltd. boosted its position in Tourmaline Bio by 63.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company’s stock valued at $127,000 after purchasing an additional 1,920 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Tourmaline Bio during the third quarter valued at $226,000. Quest Partners LLC boosted its position in Tourmaline Bio by 145.4% during the third quarter. Quest Partners LLC now owns 9,381 shares of the company’s stock valued at $241,000 after purchasing an additional 5,559 shares during the last quarter. Finally, MetLife Investment Management LLC acquired a new stake in Tourmaline Bio during the third quarter valued at $357,000. Hedge funds and other institutional investors own 91.89% of the company’s stock.

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.