Tourmaline Bio, Inc. (NASDAQ:TRML) Receives Average Rating of “Buy” from Analysts

Tourmaline Bio, Inc. (NASDAQ:TRML) has been assigned a consensus rating of “Buy” from the seven ratings firms that are presently covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have covered the stock in the last year is $50.00.

A number of research firms have recently issued reports on TRML. BMO Capital Markets began coverage on shares of Tourmaline Bio in a research note on Friday, December 6th. They issued an “outperform” rating and a $50.00 price target on the stock. Wedbush boosted their price target on shares of Tourmaline Bio from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, March 14th. Guggenheim reissued a “buy” rating on shares of Tourmaline Bio in a research note on Wednesday, December 11th. HC Wainwright boosted 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, March 14th. Finally, 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 target on the stock.

Tourmaline Bio Price Performance

Shares of TRML stock opened at $17.15 on Friday. The firm’s 50-day moving average is $15.40 and its two-hundred day moving average is $20.86. Tourmaline Bio has a 12 month low of $11.87 and a 12 month high of $29.79. The company has a market capitalization of $440.50 million, a PE ratio of -6.08 and a beta of 2.35.

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

Institutional Investors Weigh In On Tourmaline Bio

Several large investors have recently added to or reduced their stakes in TRML. Brooklyn Investment Group acquired a new position in Tourmaline Bio during the 4th quarter worth approximately $32,000. Tower Research Capital LLC TRC raised its position in Tourmaline Bio by 297.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company’s stock valued at $33,000 after purchasing an additional 1,232 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Tourmaline Bio in the 4th quarter valued at $47,000. Virtus ETF Advisers LLC purchased a new position in Tourmaline Bio during the 4th quarter worth $64,000. Finally, California State Teachers Retirement System raised its position in Tourmaline Bio by 527.9% during the 4th quarter. California State Teachers Retirement System now owns 10,505 shares of the company’s stock worth $213,000 after buying an additional 8,832 shares during the last quarter. 91.89% of the stock is owned by hedge funds and other 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.