Tourmaline Bio, Inc. (NASDAQ:TRML) Receives $53.14 Consensus Price Target from Analysts

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have been assigned a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $53.14.

TRML has been the topic of a number of recent research reports. Guggenheim reissued a “buy” rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Lifesci Capital initiated coverage on shares of Tourmaline Bio in a research report on Monday, February 24th. They issued an “outperform” rating and a $58.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and set a $25.00 target price on shares of Tourmaline Bio in a research note on Wednesday, December 11th. BMO Capital Markets initiated coverage on Tourmaline Bio in a research note on Friday, December 6th. They issued an “outperform” rating and a $50.00 price target on the stock. Finally, Wedbush upped their target price on Tourmaline Bio from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, March 14th.

Tourmaline Bio Trading Down 5.1 %

Shares of Tourmaline Bio stock opened at $17.33 on Friday. Tourmaline Bio has a twelve month low of $11.87 and a twelve month high of $45.55. The stock has a market cap of $444.39 million, a price-to-earnings ratio of -6.15 and a beta of 2.35. The company has a fifty day moving average price of $15.58 and a 200 day moving average price of $20.89.

Tourmaline Bio (NASDAQ:TRML) last posted its earnings results on Thursday, March 13th. The company reported ($0.86) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.05. The company had revenue of $0.04 million during the quarter. Analysts forecast that Tourmaline Bio will post -3.02 earnings per share for the current year.

Hedge Funds Weigh In On Tourmaline Bio

A number of hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System lifted its position in shares of Tourmaline Bio by 527.9% in the 4th quarter. California State Teachers Retirement System now owns 10,505 shares of the company’s stock worth $213,000 after buying an additional 8,832 shares during the last quarter. Woodline Partners LP raised its stake in Tourmaline Bio by 1.6% during the fourth quarter. Woodline Partners LP now owns 161,721 shares of the company’s stock worth $3,280,000 after acquiring an additional 2,567 shares during the period. Velan Capital Investment Management LP lifted its holdings in Tourmaline Bio by 28.0% in the fourth quarter. Velan Capital Investment Management LP now owns 423,795 shares of the company’s stock worth $8,595,000 after acquiring an additional 92,605 shares during the last quarter. Wexford Capital LP acquired a new position in Tourmaline Bio in the fourth quarter valued at approximately $418,000. Finally, Stempoint Capital LP grew its holdings in shares of Tourmaline Bio by 127.7% during the fourth quarter. Stempoint Capital LP now owns 126,400 shares of the company’s stock valued at $2,563,000 after purchasing an additional 70,877 shares during the last quarter. Institutional investors and hedge funds 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.