Tourmaline Bio (NASDAQ:TRML) Price Target Raised to $49.00

Tourmaline Bio (NASDAQ:TRML) had its price objective lifted by HC Wainwright from $48.00 to $49.00 in a report published on Monday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

Separately, Cantor Fitzgerald upgraded shares of Tourmaline Bio to a “strong-buy” rating in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $65.00.

Tourmaline Bio Stock Up 0.4 %

Shares of NASDAQ:TRML opened at $26.26 on Monday. The firm’s 50 day moving average price is $24.84 and its 200 day moving average price is $18.37. The stock has a market cap of $673.31 million, a price-to-earnings ratio of -9.31 and a beta of 2.36. Tourmaline Bio has a fifty-two week low of $12.12 and a fifty-two week high of $48.31.

Tourmaline Bio (NASDAQ:TRML) last issued its earnings results on Thursday, November 7th. The company reported ($0.78) earnings per share for the quarter, beating the consensus estimate of ($0.84) by $0.06. On average, equities analysts anticipate that Tourmaline Bio will post -3.05 EPS for the current year.

Insider Transactions at Tourmaline Bio

In other Tourmaline Bio news, CEO Sandeep Chidambar Kulkarni bought 5,221 shares of the stock in a transaction dated Friday, August 16th. The shares were acquired at an average cost of $13.79 per share, for a total transaction of $71,997.59. Following the completion of the transaction, the chief executive officer now owns 5,221 shares in the company, valued at approximately $71,997.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 11.02% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets acquired a new position in Tourmaline Bio in the 1st quarter valued at about $31,000. Quest Partners LLC raised its stake in Tourmaline Bio by 134.0% in the 2nd quarter. Quest Partners LLC now owns 3,822 shares of the company’s stock valued at $49,000 after purchasing an additional 2,189 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Tourmaline Bio by 63.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company’s stock valued at $127,000 after purchasing an additional 1,920 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Tourmaline Bio in the 3rd quarter valued at about $226,000. Finally, Janus Henderson Group PLC acquired a new position in Tourmaline Bio in the 1st quarter valued at about $266,000. Institutional investors and hedge funds 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.