Tourmaline Bio, Inc. (NASDAQ:TRML) Given Consensus Rating of “Buy” by Brokerages

Tourmaline Bio, Inc. (NASDAQ:TRML) has received an average recommendation of “Buy” from the six brokerages that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $54.00.

Several analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $49.00 price target on shares of Tourmaline Bio in a research note on Wednesday. BMO Capital Markets assumed coverage on shares of Tourmaline Bio in a report on Friday, December 6th. They issued an “outperform” rating and a $50.00 price target on the stock. Guggenheim reaffirmed a “buy” rating on shares of Tourmaline Bio in a report on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $25.00 target price on shares of Tourmaline Bio in a report on Wednesday.

Institutional Trading of Tourmaline Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRML. Vanguard Group Inc. boosted its stake in shares of Tourmaline Bio by 19.7% during the 1st quarter. Vanguard Group Inc. now owns 914,519 shares of the company’s stock worth $20,942,000 after acquiring an additional 150,767 shares in the last quarter. Blue Owl Capital Holdings LP boosted its position in Tourmaline Bio by 18.5% during the second quarter. Blue Owl Capital Holdings LP now owns 1,715,401 shares of the company’s stock worth $22,060,000 after purchasing an additional 268,000 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Tourmaline Bio in the second quarter valued at approximately $909,000. Rhumbline Advisers increased its position in shares of Tourmaline Bio by 28,554.3% in the second quarter. Rhumbline Advisers now owns 33,239 shares of the company’s stock valued at $427,000 after buying an additional 33,123 shares in the last quarter. Finally, Acuta Capital Partners LLC raised its stake in shares of Tourmaline Bio by 23.2% during the 3rd quarter. Acuta Capital Partners LLC now owns 332,095 shares of the company’s stock worth $8,538,000 after buying an additional 62,481 shares during the period. Institutional investors and hedge funds own 91.89% of the company’s stock.

Tourmaline Bio Price Performance

Shares of TRML stock opened at $22.52 on Friday. The stock’s fifty day moving average price is $26.12 and its 200 day moving average price is $19.76. Tourmaline Bio has a 1-year low of $12.12 and a 1-year high of $48.31. The company has a market cap of $577.48 million, a price-to-earnings ratio of -7.99 and a beta of 2.32.

Tourmaline Bio (NASDAQ:TRML) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.78) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.06. As a group, equities research analysts anticipate that Tourmaline Bio will post -3.08 earnings per share for the current 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.