Tourmaline Bio (NASDAQ:TRML) Price Target Raised to $43.00 at Wedbush

Tourmaline Bio (NASDAQ:TRML) had its target price lifted by equities research analysts at Wedbush from $42.00 to $43.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price target points to a potential upside of 128.72% from the company’s previous close.

Other analysts also recently issued research reports about the stock. BMO Capital Markets assumed coverage on shares of Tourmaline Bio in a report on Friday, December 6th. They issued an “outperform” rating and a $50.00 price objective for the company. HC Wainwright boosted their target price on shares of Tourmaline Bio from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Friday. Cantor Fitzgerald restated an “overweight” rating and issued a $25.00 target price on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Guggenheim reiterated a “buy” rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Finally, Lifesci Capital started coverage on shares of Tourmaline Bio in a research report on Monday, February 24th. They set an “outperform” rating and a $58.00 price objective for the company. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Tourmaline Bio has a consensus rating of “Buy” and a consensus target price of $53.14.

Tourmaline Bio Price Performance

Tourmaline Bio stock opened at $18.80 on Friday. The firm has a market capitalization of $482.09 million, a PE ratio of -6.67 and a beta of 2.35. The company’s 50-day moving average is $15.71 and its 200-day moving average is $20.85. Tourmaline Bio has a fifty-two week low of $11.87 and a fifty-two week high of $45.55.

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, topping the consensus estimate of ($0.91) by $0.05. The firm had revenue of $0.04 million for the quarter. As a group, analysts expect that Tourmaline Bio will post -3.02 EPS for the current year.

Hedge Funds Weigh In On Tourmaline Bio

Several large investors have recently modified their holdings of the business. Rhumbline Advisers raised its stake in Tourmaline Bio by 2.1% during the fourth quarter. Rhumbline Advisers now owns 35,591 shares of the company’s stock worth $722,000 after buying an additional 718 shares during the last quarter. SG Americas Securities LLC raised its stake in Tourmaline Bio by 3.4% during the fourth quarter. SG Americas Securities LLC now owns 34,812 shares of the company’s stock worth $706,000 after buying an additional 1,140 shares during the last quarter. Invesco Ltd. raised its stake in Tourmaline Bio by 10.8% during the fourth quarter. Invesco Ltd. now owns 12,155 shares of the company’s stock worth $247,000 after buying an additional 1,181 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Tourmaline Bio by 297.6% during the fourth 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. Finally, Brooklyn Investment Group bought a new position in Tourmaline Bio during the fourth quarter worth $32,000. 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.