Tourmaline Bio’s (TRML) “Buy” Rating Reaffirmed at HC Wainwright

Tourmaline Bio (NASDAQ:TRML)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $49.00 price target on the stock. HC Wainwright’s target price would indicate a potential upside of 96.00% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Cantor Fitzgerald upgraded shares of Tourmaline Bio to a “strong-buy” rating in a research note on Tuesday, October 15th. BMO Capital Markets initiated coverage on shares of Tourmaline Bio in a report on Friday, December 6th. They set an “outperform” rating and a $50.00 price target for the company. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $61.25.

Tourmaline Bio Stock Performance

TRML opened at $25.00 on Wednesday. The company has a market cap of $641 million, a PE ratio of -8.87 and a beta of 2.32. The stock has a 50-day moving average of $26.24 and a 200-day moving average of $19.71. Tourmaline Bio has a 52-week low of $12.12 and a 52-week high of $48.31.

Tourmaline Bio (NASDAQ:TRML) last announced its earnings results on Thursday, November 7th. The company reported ($0.78) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.06. On average, research analysts predict that Tourmaline Bio will post -3.08 earnings per share 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 TRML. Quest Partners LLC grew its position in Tourmaline Bio by 134.0% in the 2nd quarter. Quest Partners LLC now owns 3,822 shares of the company’s stock worth $49,000 after purchasing an additional 2,189 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Tourmaline Bio by 63.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company’s stock valued at $127,000 after buying an additional 1,920 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Tourmaline Bio during the third quarter worth about $226,000. California State Teachers Retirement System bought a new position in Tourmaline Bio during the first quarter valued at about $334,000. Finally, MetLife Investment Management LLC acquired a new position in Tourmaline Bio in the 3rd quarter valued at approximately $357,000. Institutional investors own 91.89% of the company’s stock.

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.