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

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have received a consensus rating of “Buy” from the six research firms that are currently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $54.00.

Several analysts have commented on the stock. BMO Capital Markets assumed coverage on shares of Tourmaline Bio in a report on Friday, December 6th. They set an “outperform” rating and a $50.00 target price on the stock. Guggenheim reaffirmed a “buy” rating on shares of Tourmaline Bio in a research note on Wednesday, December 11th. HC Wainwright reaffirmed a “buy” rating and set a $49.00 price target on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 price target on shares of Tourmaline Bio in a research note on Wednesday, December 11th.

Hedge Funds Weigh In On Tourmaline Bio

Several hedge funds and other institutional investors have recently made changes to their positions in TRML. Point72 Asset Management L.P. bought a new position in shares of Tourmaline Bio in the third quarter valued at $8,701,000. Blue Owl Capital Holdings LP grew its stake in shares of Tourmaline Bio by 18.5% in the second quarter. Blue Owl Capital Holdings LP now owns 1,715,401 shares of the company’s stock valued at $22,060,000 after buying an additional 268,000 shares in the last quarter. State Street Corp grew its stake in shares of Tourmaline Bio by 25.6% in the third quarter. State Street Corp now owns 411,980 shares of the company’s stock valued at $10,592,000 after buying an additional 83,949 shares in the last quarter. Renaissance Technologies LLC boosted its position in Tourmaline Bio by 184.9% during the second quarter. Renaissance Technologies LLC now owns 100,076 shares of the company’s stock worth $1,287,000 after purchasing an additional 64,950 shares during the period. Finally, Acuta Capital Partners LLC boosted its position in Tourmaline Bio by 23.2% during the third quarter. Acuta Capital Partners LLC now owns 332,095 shares of the company’s stock worth $8,538,000 after purchasing an additional 62,481 shares during the period. 91.89% of the stock is owned by institutional investors.

Tourmaline Bio Price Performance

Shares of NASDAQ:TRML opened at $16.33 on Friday. The company has a market capitalization of $418.70 million, a price-to-earnings ratio of -5.79 and a beta of 2.36. The firm’s 50 day simple moving average is $21.22 and its 200 day simple moving average is $21.10. Tourmaline Bio has a fifty-two week low of $12.12 and a fifty-two week high of $48.31.

Tourmaline Bio (NASDAQ:TRML) last announced its 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. Equities research analysts expect that Tourmaline Bio will post -2.99 earnings per share for the current year.

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.