HC Wainwright Raises Tourmaline Bio (NASDAQ:TRML) Price Target to $50.00

Tourmaline Bio (NASDAQ:TRML) had its target price increased by investment analysts at HC Wainwright from $49.00 to $50.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 165.96% from the company’s current price.

A number of other analysts have also recently commented on TRML. Guggenheim restated a “buy” rating on shares of Tourmaline Bio in a report on Wednesday, December 11th. Lifesci Capital initiated coverage on shares of Tourmaline Bio in a research report on Monday, February 24th. They set an “outperform” rating and a $58.00 price target for the company. Wedbush started coverage on shares of Tourmaline Bio in a research report on Thursday, March 6th. They set an “outperform” rating and a $42.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 target price on shares of Tourmaline Bio in a report on Wednesday, December 11th. Finally, BMO Capital Markets assumed coverage on Tourmaline Bio in a research note on Friday, December 6th. They issued an “outperform” rating and a $50.00 price target for the company. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $53.14.

Tourmaline Bio Stock Performance

TRML stock opened at $18.80 on Friday. The company has a market capitalization of $482.09 million, a PE ratio of -6.67 and a beta of 2.35. Tourmaline Bio has a one year low of $11.87 and a one year high of $45.55. The company’s 50 day moving average price is $15.71 and its two-hundred day moving average price is $20.85.

Tourmaline Bio (NASDAQ:TRML) last issued its earnings results on Thursday, March 13th. The company reported ($0.86) EPS for the quarter, topping the consensus estimate of ($0.91) by $0.05. The firm had revenue of $0.04 million during the quarter. On average, research analysts predict that Tourmaline Bio will post -3.02 EPS for the current year.

Institutional Investors Weigh In On Tourmaline Bio

Several institutional investors have recently added to or reduced their stakes in TRML. 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 valued at $12,396,000 after acquiring an additional 29,005 shares during the period. Wellington Management Group LLP boosted its holdings in Tourmaline Bio by 72.8% during the 3rd quarter. Wellington Management Group LLP now owns 65,741 shares of the company’s stock valued at $1,690,000 after acquiring an additional 27,707 shares during the period. State Street Corp boosted its holdings in Tourmaline Bio by 25.6% during the 3rd quarter. State Street Corp now owns 411,980 shares of the company’s stock valued at $10,592,000 after acquiring an additional 83,949 shares during the period. Charles Schwab Investment Management Inc. raised its position in Tourmaline Bio by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,571 shares of the company’s stock valued at $1,634,000 after purchasing an additional 2,147 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Tourmaline Bio by 283.7% during the 3rd quarter. Barclays PLC now owns 31,833 shares of the company’s stock worth $819,000 after acquiring an additional 23,536 shares in the last quarter. 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.