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

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have been assigned a consensus rating of “Buy” from the eight research firms that are presently covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have covered the stock in the last year is $53.14.

Several brokerages recently weighed in on TRML. HC Wainwright increased their target price on Tourmaline Bio from $49.00 to $50.00 and gave the company a “buy” rating in a report on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $25.00 target price on shares of Tourmaline Bio in a report on Wednesday, December 11th. BMO Capital Markets began coverage on Tourmaline Bio in a report on Friday, December 6th. They set an “outperform” rating and a $50.00 target price for the company. Wedbush increased their price objective on Tourmaline Bio from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Guggenheim reiterated a “buy” rating on shares of Tourmaline Bio in a report on Wednesday, December 11th.

Tourmaline Bio Trading Up 10.3 %

Shares of Tourmaline Bio stock opened at $18.80 on Friday. The firm has a market capitalization of $482.09 million, a PE ratio of -6.67 and a beta of 2.35. The business’s 50-day moving average price is $15.71 and its 200-day moving average price is $20.85. Tourmaline Bio has a 12 month low of $11.87 and a 12 month high of $45.55.

Tourmaline Bio (NASDAQ:TRML) last issued its earnings results on Thursday, March 13th. The company reported ($0.86) earnings per share for the quarter, beating the consensus estimate of ($0.91) by $0.05. The company had revenue of $0.04 million for the quarter. As a group, analysts predict that Tourmaline Bio will post -3.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of Tourmaline Bio by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 482,078 shares of the company’s stock valued at $12,396,000 after purchasing an additional 29,005 shares during the period. Wellington Management Group LLP lifted its stake in shares of Tourmaline Bio by 72.8% in the 3rd quarter. Wellington Management Group LLP now owns 65,741 shares of the company’s stock valued at $1,690,000 after purchasing an additional 27,707 shares during the period. 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 valued at $10,592,000 after purchasing 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 valued at $1,634,000 after purchasing an additional 2,147 shares during the period. Finally, Barclays PLC lifted its stake in shares of Tourmaline Bio by 283.7% in the 3rd quarter. Barclays PLC now owns 31,833 shares of the company’s stock valued at $819,000 after purchasing an additional 23,536 shares during the period. Hedge funds and other institutional investors 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.