Tourmaline Bio (NASDAQ:TRML) Stock Price Expected to Rise, Wedbush Analyst Says

Tourmaline Bio (NASDAQ:TRML) had its price target hoisted by research analysts at Wedbush from $42.00 to $43.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s target price would indicate a potential upside of 128.72% from the stock’s previous close.

TRML has been the topic of several other reports. HC Wainwright increased their price target on shares of Tourmaline Bio from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Friday. Cantor Fitzgerald reissued an “overweight” rating and set a $25.00 price target on shares of Tourmaline Bio in a research note on Wednesday, December 11th. BMO Capital Markets started coverage on shares of Tourmaline Bio in a research note on Friday, December 6th. They issued an “outperform” rating and a $50.00 price objective on the stock. Lifesci Capital started coverage on shares of Tourmaline Bio in a research note on Monday, February 24th. They issued an “outperform” rating and a $58.00 price objective on the stock. Finally, Guggenheim reaffirmed a “buy” rating on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $53.14.

Tourmaline Bio Stock Up 10.3 %

NASDAQ:TRML 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 firm has a 50-day moving average price of $15.71 and a 200 day moving average price of $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 released its quarterly earnings results on Thursday, March 13th. The company reported ($0.86) EPS for the quarter, beating the consensus estimate of ($0.91) by $0.05. The company had revenue of $0.04 million for the quarter. On average, research analysts expect that Tourmaline Bio will post -3.02 EPS for the current year.

Hedge Funds Weigh In On Tourmaline Bio

Hedge funds and other institutional investors have recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in shares of Tourmaline Bio during the fourth quarter worth $32,000. Tower Research Capital LLC TRC boosted its position in shares of Tourmaline Bio by 297.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company’s stock worth $33,000 after purchasing an additional 1,232 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Tourmaline Bio during the fourth quarter worth $47,000. Virtus ETF Advisers LLC acquired a new stake in shares of Tourmaline Bio during the fourth quarter worth $64,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Tourmaline Bio during the third quarter worth $226,000. 91.89% of the stock is owned by institutional investors.

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.