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

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have received a consensus recommendation of “Buy” from the six analysts that are covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $54.00.

A number of research firms have recently weighed in on TRML. Guggenheim reissued a “buy” rating on shares of Tourmaline Bio in a report on Wednesday, December 11th. BMO Capital Markets started 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 target price on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Finally, HC Wainwright reiterated a “buy” rating and issued a $49.00 target price on shares of Tourmaline Bio in a research report on Wednesday, December 11th.

Tourmaline Bio Price Performance

TRML stock opened at $16.33 on Friday. Tourmaline Bio has a one year low of $12.12 and a one year high of $48.31. The stock has a market cap of $418.70 million, a price-to-earnings ratio of -5.79 and a beta of 2.36. The company has a fifty day moving average price of $21.22 and a two-hundred day moving average price of $21.10.

Tourmaline Bio (NASDAQ:TRML) last posted its earnings results on Thursday, November 7th. The company reported ($0.78) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.06. Research analysts anticipate that Tourmaline Bio will post -2.99 EPS for the current fiscal year.

Institutional Trading of Tourmaline Bio

Several hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC grew its holdings in shares of Tourmaline Bio by 3.4% during the fourth quarter. SG Americas Securities LLC now owns 34,812 shares of the company’s stock worth $706,000 after purchasing an additional 1,140 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Tourmaline Bio during the fourth quarter worth about $32,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Tourmaline Bio by 63.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company’s stock worth $127,000 after purchasing an additional 1,920 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Tourmaline Bio by 16.5% during the third quarter. JPMorgan Chase & Co. now owns 14,804 shares of the company’s stock worth $381,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Tourmaline Bio by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 63,571 shares of the company’s stock worth $1,634,000 after purchasing an additional 2,147 shares during the last quarter. 91.89% of the stock is currently 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.