Tourmaline Bio, Inc. (NASDAQ:TRML) Receives $61.25 Consensus Price Target from Analysts

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have been given an average rating of “Buy” by the five ratings firms that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $61.25.

A number of analysts recently weighed in on TRML shares. BMO Capital Markets initiated coverage on shares of Tourmaline Bio in a research report on Friday. They set an “outperform” rating and a $50.00 price target for the company. Cantor Fitzgerald raised Tourmaline Bio to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, HC Wainwright raised their target price on Tourmaline Bio from $48.00 to $49.00 and gave the company a “buy” rating in a report on Monday, November 11th.

Tourmaline Bio Stock Up 7.9 %

TRML stock opened at $25.93 on Friday. The company has a market cap of $664.92 million, a price-to-earnings ratio of -9.20 and a beta of 2.32. The business has a fifty day simple moving average of $26.27 and a 200-day simple moving average of $19.55. Tourmaline Bio has a 52 week low of $12.12 and a 52 week high of $48.31.

Tourmaline Bio (NASDAQ:TRML) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.78) EPS for the quarter, topping the consensus estimate of ($0.84) by $0.06. As a group, analysts expect that Tourmaline Bio will post -3.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tourmaline Bio

A number of hedge funds have recently bought and sold shares of TRML. Vanguard Group Inc. raised its stake in Tourmaline Bio by 19.7% during the first 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 in the last quarter. Janus Henderson Group PLC bought a new position in Tourmaline Bio during the first quarter worth $266,000. California State Teachers Retirement System bought a new position in Tourmaline Bio during the first quarter worth $334,000. SG Americas Securities LLC acquired a new position in Tourmaline Bio in the second quarter worth $433,000. Finally, AlphaCentric Advisors LLC increased its stake in Tourmaline Bio by 22.7% during the second quarter. AlphaCentric Advisors LLC now owns 75,000 shares of the company’s stock valued at $964,000 after purchasing an additional 13,900 shares during the last quarter. 91.89% of the stock is currently owned by institutional investors and hedge funds.

About Tourmaline Bio

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.