Tourmaline Bio, Inc. (NASDAQ:TRML) Receives Average Rating of “Buy” from Brokerages

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have received an average recommendation of “Buy” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $50.00.

TRML has been the subject of several research reports. Lifesci Capital initiated coverage on shares of Tourmaline Bio in a report on Monday, February 24th. They issued an “outperform” rating and a $58.00 price target for the company. Wedbush upped their target price on Tourmaline Bio from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, March 14th. BMO Capital Markets initiated coverage on Tourmaline Bio in a report on Friday, December 6th. They issued an “outperform” rating and a $50.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $25.00 price objective on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Finally, HC Wainwright raised their target price on Tourmaline Bio from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, March 14th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in Tourmaline Bio by 6.4% in the third quarter. Geode Capital Management LLC now owns 482,078 shares of the company’s stock worth $12,396,000 after purchasing an additional 29,005 shares during the period. Wellington Management Group LLP raised its position in shares of Tourmaline Bio by 72.8% during the 3rd quarter. Wellington Management Group LLP now owns 65,741 shares of the company’s stock worth $1,690,000 after buying an additional 27,707 shares in the last quarter. State Street Corp lifted its stake in shares of Tourmaline Bio by 25.6% in the 3rd quarter. State Street Corp now owns 411,980 shares of the company’s stock worth $10,592,000 after acquiring an additional 83,949 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Tourmaline Bio by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,571 shares of the company’s stock worth $1,634,000 after acquiring an additional 2,147 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Tourmaline Bio by 283.7% in the third quarter. Barclays PLC now owns 31,833 shares of the company’s stock valued at $819,000 after acquiring an additional 23,536 shares in the last quarter. Institutional investors own 91.89% of the company’s stock.

Tourmaline Bio Stock Up 2.4 %

NASDAQ:TRML opened at $16.88 on Friday. The company has a market cap of $432.85 million, a PE ratio of -5.99 and a beta of 2.35. The business’s 50 day moving average is $15.45 and its two-hundred day moving average is $20.83. Tourmaline Bio has a 52 week low of $11.87 and a 52 week high of $30.00.

Tourmaline Bio (NASDAQ:TRML) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.86) earnings per share (EPS) 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, sell-side analysts expect that Tourmaline Bio will post -3.02 EPS for the current fiscal year.

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.