Brokerages Set Tourmaline Bio, Inc. (NASDAQ:TRML) Target Price at $53.14

Tourmaline Bio, Inc. (NASDAQ:TRML) has received an average recommendation of “Buy” from the seven analysts that are covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $50.00.

A number of research analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $25.00 price objective on shares of Tourmaline Bio in a report on Wednesday, December 11th. 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. Wedbush lifted their price objective on shares of Tourmaline Bio from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, March 14th. Lifesci Capital began coverage on shares of Tourmaline Bio in a report on Monday, February 24th. They issued an “outperform” rating and a $58.00 price objective for the company. Finally, HC Wainwright lifted 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, March 14th.

Tourmaline Bio Price Performance

Shares of Tourmaline Bio stock opened at $17.15 on Friday. The firm has a fifty day moving average price of $15.40 and a 200 day moving average price of $20.86. Tourmaline Bio has a 1 year low of $11.87 and a 1 year high of $29.79. The stock has a market cap of $440.50 million, a PE ratio of -6.08 and a beta of 2.35.

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

Hedge Funds Weigh In On Tourmaline Bio

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers boosted its position 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 acquiring an additional 718 shares during the last quarter. SG Americas Securities LLC boosted its position 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 acquiring an additional 1,140 shares during the last quarter. Invesco Ltd. boosted its position 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 acquiring an additional 1,181 shares during the last quarter. Tower Research Capital LLC TRC boosted its position 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 acquiring an additional 1,232 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in Tourmaline Bio during the fourth quarter worth about $32,000. 91.89% of the stock is currently owned by institutional investors and hedge funds.

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.