BMO Capital Markets began coverage on shares of Tourmaline Bio (NASDAQ:TRML - Free Report) in a report released on Friday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $50.00 price target on the stock.
A number of other equities analysts also recently commented on TRML. Cantor Fitzgerald raised shares of Tourmaline Bio to a "strong-buy" rating in a report on Tuesday, October 15th. HC Wainwright lifted their price objective on Tourmaline Bio from $48.00 to $49.00 and gave the company a "buy" rating in a report on Monday, November 11th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tourmaline Bio presently has a consensus rating of "Buy" and an average target price of $61.25.
View Our Latest Analysis on TRML
Tourmaline Bio Stock Up 7.9 %
Tourmaline Bio stock traded up $1.90 during mid-day trading on Friday, reaching $25.93. The company had a trading volume of 136,158 shares, compared to its average volume of 205,167. The company has a 50 day moving average of $26.27 and a 200-day moving average of $19.47. Tourmaline Bio has a 52 week low of $12.12 and a 52 week high of $48.31. The firm has a market cap of $664.92 million, a price-to-earnings ratio of -9.20 and a beta of 2.32.
Tourmaline Bio (NASDAQ:TRML - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.78) EPS for the quarter, topping analysts' consensus estimates of ($0.84) by $0.06. On average, analysts predict that Tourmaline Bio will post -3.08 earnings per share for the current fiscal year.
Institutional Trading of Tourmaline Bio
Several large investors have recently added to or reduced their stakes in TRML. Quest Partners LLC grew its holdings in shares of Tourmaline Bio by 134.0% during the second quarter. Quest Partners LLC now owns 3,822 shares of the company's stock worth $49,000 after purchasing an additional 2,189 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Tourmaline Bio by 63.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company's stock worth $127,000 after buying an additional 1,920 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in Tourmaline Bio during the 3rd quarter worth about $226,000. California State Teachers Retirement System acquired a new stake in Tourmaline Bio in the 1st quarter valued at about $334,000. Finally, MetLife Investment Management LLC bought a new position in shares of Tourmaline Bio in the third quarter worth about $357,000. 91.89% of the stock is owned by institutional investors.
About Tourmaline Bio
(
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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.
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