Tourmaline Bio, Inc. (NASDAQ:TRML) Receives $45.20 Consensus PT from Analysts

Tourmaline Bio, Inc. (NASDAQ:TRML) has been given an average recommendation of “Buy” by the six brokerages that are currently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $45.20.

A number of research firms have issued reports on TRML. Lifesci Capital initiated coverage on Tourmaline Bio in a research report on Monday, February 24th. They set an “outperform” rating and a $58.00 price target for the company. HC Wainwright boosted their target price on Tourmaline Bio from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Finally, Wedbush raised their price target on shares of Tourmaline Bio from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, March 14th.

Institutional Investors Weigh In On Tourmaline Bio

A number of large investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in Tourmaline Bio by 4,481.7% in the 1st quarter. GAMMA Investing LLC now owns 7,514 shares of the company’s stock worth $114,000 after acquiring an additional 7,350 shares during the period. Wellington Management Group LLP boosted its stake in shares of Tourmaline Bio by 4.3% in the fourth quarter. Wellington Management Group LLP now owns 68,599 shares of the company’s stock valued at $1,391,000 after purchasing an additional 2,858 shares during the period. California State Teachers Retirement System grew its holdings 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 valued at $213,000 after purchasing an additional 8,832 shares in the last quarter. Woodline Partners LP increased its stake in Tourmaline Bio by 1.6% during the 4th quarter. Woodline Partners LP now owns 161,721 shares of the company’s stock worth $3,280,000 after buying an additional 2,567 shares during the period. Finally, Velan Capital Investment Management LP increased its stake in Tourmaline Bio by 28.0% during the 4th quarter. Velan Capital Investment Management LP now owns 423,795 shares of the company’s stock worth $8,595,000 after buying an additional 92,605 shares during the period. Institutional investors and hedge funds own 91.89% of the company’s stock.

Tourmaline Bio Stock Up 8.3 %

Shares of Tourmaline Bio stock opened at $13.10 on Thursday. Tourmaline Bio has a 52 week low of $11.56 and a 52 week high of $29.79. The firm’s 50 day moving average is $14.32 and its two-hundred day moving average is $20.20. The firm has a market capitalization of $336.47 million, a P/E ratio of -4.65 and a beta of 2.14.

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

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.