BMO Capital Markets Begins Coverage on Tourmaline Bio (NASDAQ:TRML)

Investment analysts at BMO Capital Markets assumed coverage on shares of Tourmaline Bio (NASDAQ:TRML) in a report issued on Friday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $50.00 price target on the stock. BMO Capital Markets’ price target indicates a potential upside of 92.83% from the stock’s previous close.

Several other research analysts have also weighed in on the stock. HC Wainwright upped their price objective on shares of Tourmaline Bio from $48.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Cantor Fitzgerald raised shares of Tourmaline Bio to a “strong-buy” rating in a research note on Tuesday, October 15th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $61.25.

Tourmaline Bio Stock Performance

Shares of NASDAQ:TRML opened at $25.93 on Friday. The firm has a 50 day simple moving average of $26.27 and a 200 day simple moving average of $19.51. Tourmaline Bio has a 52 week low of $12.12 and a 52 week high of $48.31. The company has a market cap of $664.92 million, a PE ratio of -9.20 and a beta of 2.32.

Tourmaline Bio (NASDAQ:TRML) last released its earnings results on Thursday, November 7th. The company reported ($0.78) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.06. On average, equities analysts predict that Tourmaline Bio will post -3.08 earnings per share for the current year.

Hedge Funds Weigh In On Tourmaline Bio

Hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. acquired a new position in Tourmaline Bio during the third quarter valued at approximately $8,701,000. Blue Owl Capital Holdings LP boosted its holdings in shares of Tourmaline Bio by 18.5% during the 2nd quarter. Blue Owl Capital Holdings LP now owns 1,715,401 shares of the company’s stock worth $22,060,000 after buying an additional 268,000 shares during the period. Vanguard Group Inc. grew its stake in Tourmaline Bio by 19.7% in the 1st quarter. Vanguard Group Inc. now owns 914,519 shares of the company’s stock valued at $20,942,000 after buying an additional 150,767 shares during the last quarter. State Street Corp raised its holdings in 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. Finally, Bank of New York Mellon Corp acquired a new position in Tourmaline Bio during the 2nd quarter worth $909,000. 91.89% of the stock is 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.