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

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report) have been given an average rating of "Buy" by the six brokerages that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $54.00.

A number of research firms have commented on TRML. BMO Capital Markets began coverage on shares of Tourmaline Bio in a report on Friday, December 6th. They set an "outperform" rating and a $50.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and set a $49.00 price objective on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Guggenheim restated a "buy" rating on shares of Tourmaline Bio in a report on Wednesday, December 11th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $25.00 price target on shares of Tourmaline Bio in a research note on Wednesday, December 11th.

Tourmaline Bio Price Performance

Shares of TRML stock traded up $0.20 on Tuesday, reaching $20.28. 112,445 shares of the stock were exchanged, compared to its average volume of 288,462. The stock has a 50 day moving average price of $24.66 and a 200 day moving average price of $20.41. The stock has a market cap of $520.04 million, a PE ratio of -7.19 and a beta of 2.32. Tourmaline Bio has a one year low of $12.12 and a one year high of $48.31.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported ($0.78) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.84) by $0.06. On average, research analysts expect that Tourmaline Bio will post -2.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tourmaline Bio

Institutional investors and hedge funds have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Tourmaline Bio by 63.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company's stock valued at $127,000 after buying an additional 1,920 shares during the period. JPMorgan Chase & Co. boosted its stake in Tourmaline Bio by 16.5% in the 3rd 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 period. Charles Schwab Investment Management Inc. increased its holdings in Tourmaline Bio by 3.5% during the 3rd 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 in the last quarter. Quest Partners LLC raised its stake in shares of Tourmaline Bio by 134.0% in the 2nd quarter. Quest Partners LLC now owns 3,822 shares of the company's stock valued at $49,000 after purchasing an additional 2,189 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Tourmaline Bio in the third quarter valued at about $226,000. 91.89% of the stock is currently owned by institutional investors and hedge funds.

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.