Tourmaline Bio (NASDAQ:TRML) Price Target Raised to $50.00 at HC Wainwright

Tourmaline Bio (NASDAQ:TRML) had its target price hoisted by HC Wainwright from $49.00 to $50.00 in a report released on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts also recently commented on TRML. BMO Capital Markets initiated coverage on Tourmaline Bio in a report on Friday, December 6th. They set an “outperform” rating and a $50.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 price target on shares of Tourmaline Bio in a report on Wednesday, December 11th. Guggenheim reiterated a “buy” rating on shares of Tourmaline Bio in a report on Wednesday, December 11th. Lifesci Capital assumed coverage on Tourmaline Bio in a research report on Monday, February 24th. They issued an “outperform” rating and a $58.00 price objective for the company. Finally, Wedbush assumed coverage on Tourmaline Bio in a research report on Thursday, March 6th. They issued an “outperform” rating and a $42.00 price objective for the company. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $53.14.

Tourmaline Bio Stock Performance

NASDAQ:TRML opened at $18.80 on Friday. The stock’s 50 day moving average price is $15.71 and its 200 day moving average price is $20.82. Tourmaline Bio has a 52 week low of $11.87 and a 52 week high of $45.55. The company has a market capitalization of $482.09 million, a P/E ratio of -6.67 and a beta of 2.35.

Tourmaline Bio (NASDAQ:TRML) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.86) EPS for the quarter, beating the consensus estimate of ($0.91) by $0.05. The company had revenue of $0.04 million for the quarter. As a group, sell-side analysts forecast that Tourmaline Bio will post -3.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TRML. Brooklyn Investment Group bought a new position in Tourmaline Bio in the fourth quarter worth $32,000. Tower Research Capital LLC TRC lifted its position in Tourmaline Bio by 297.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company’s stock worth $33,000 after purchasing an additional 1,232 shares during the period. KLP Kapitalforvaltning AS bought a new position in Tourmaline Bio in the fourth quarter worth $47,000. Virtus ETF Advisers LLC bought a new position in Tourmaline Bio in the fourth quarter worth $64,000. Finally, The Manufacturers Life Insurance Company bought a new position in Tourmaline Bio in the third quarter worth $226,000. 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.