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

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have been given a consensus recommendation of “Buy” by the six analysts that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have covered the stock in the last year is $45.20.

A number of research firms have recently commented on TRML. Wedbush boosted their target price on shares of Tourmaline Bio from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, March 14th. HC Wainwright boosted their price objective on shares of Tourmaline Bio from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Lifesci Capital initiated coverage on Tourmaline Bio in a research note on Monday, February 24th. They set an “outperform” rating and a $58.00 target price for the company. Guggenheim reiterated a “buy” rating on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 price target on shares of Tourmaline Bio in a report on Wednesday, December 11th.

Institutional Investors Weigh In On Tourmaline Bio

Hedge funds and other institutional investors have recently modified their holdings of the stock. Brooklyn Investment Group acquired a new position in Tourmaline Bio in the fourth quarter worth about $32,000. Tower Research Capital LLC TRC lifted its holdings in Tourmaline Bio by 297.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company’s stock worth $33,000 after buying an additional 1,232 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Tourmaline Bio in the 4th quarter worth approximately $47,000. Virtus ETF Advisers LLC bought a new stake in shares of Tourmaline Bio in the 4th quarter valued at approximately $64,000. Finally, GAMMA Investing LLC raised its position in shares of Tourmaline Bio by 4,481.7% during the 1st quarter. GAMMA Investing LLC now owns 7,514 shares of the company’s stock valued at $114,000 after acquiring an additional 7,350 shares in the last quarter. Institutional investors own 91.89% of the company’s stock.

Tourmaline Bio Price Performance

Shares of TRML opened at $12.48 on Thursday. Tourmaline Bio has a 12 month low of $11.63 and a 12 month high of $29.79. The stock’s 50-day moving average is $14.46 and its two-hundred day moving average is $20.36. The stock has a market cap of $320.55 million, a PE ratio of -4.43 and a beta of 2.14.

Tourmaline Bio (NASDAQ:TRML) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.86) EPS for the quarter, topping the consensus estimate of ($0.91) by $0.05. The company had revenue of $0.04 million for the quarter. On average, research analysts anticipate that Tourmaline Bio will post -3.02 earnings per share for the current year.

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.