Tourmaline Bio, Inc. (NASDAQ:TRML) Given Average Recommendation of “Buy” by Analysts

Tourmaline Bio, Inc. (NASDAQ:TRML) has earned an average recommendation of “Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $61.80.

Several brokerages recently weighed in on TRML. Jefferies Financial Group raised their price target on shares of Tourmaline Bio from $41.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. HC Wainwright reaffirmed a “buy” rating and issued a $48.00 price target on shares of Tourmaline Bio in a research report on Tuesday, May 14th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $74.00 price target on shares of Tourmaline Bio in a research report on Monday, March 25th.

Institutional Investors Weigh In On Tourmaline Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Avoro Capital Advisors LLC increased its stake in Tourmaline Bio by 155.9% in the 1st quarter. Avoro Capital Advisors LLC now owns 2,222,222 shares of the company’s stock valued at $50,889,000 after buying an additional 1,353,815 shares during the last quarter. Jennison Associates LLC purchased a new stake in Tourmaline Bio in the 1st quarter valued at about $25,539,000. Vanguard Group Inc. increased its stake in shares of Tourmaline Bio by 19.7% during the 1st quarter. Vanguard Group Inc. now owns 914,519 shares of the company’s stock worth $20,942,000 after purchasing an additional 150,767 shares during the last quarter. Braidwell LP purchased a new stake in shares of Tourmaline Bio during the 4th quarter worth approximately $23,741,000. Finally, Qiming U.S. Ventures Management LLC increased its stake in shares of Tourmaline Bio by 15.6% during the 1st quarter. Qiming U.S. Ventures Management LLC now owns 741,691 shares of the company’s stock worth $16,985,000 after purchasing an additional 100,000 shares during the last quarter. Hedge funds and other institutional investors own 91.89% of the company’s stock.

Tourmaline Bio Price Performance

TRML stock opened at $12.74 on Tuesday. The stock has a market capitalization of $326.78 million, a PE ratio of -1.96 and a beta of 2.30. The company’s 50-day moving average is $14.75 and its 200-day moving average is $25.23. Tourmaline Bio has a 1 year low of $9.18 and a 1 year high of $48.31.

Tourmaline Bio (NASDAQ:TRML) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.55) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.13. On average, analysts anticipate that Tourmaline Bio will post -2.94 earnings per share for the current fiscal year.

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.