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

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report) have been assigned a consensus rating of "Buy" from the eight ratings firms that are currently covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $53.14.

A number of equities analysts have weighed in on TRML shares. HC Wainwright boosted their price target on Tourmaline Bio from $49.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. Wedbush raised their price target on Tourmaline Bio from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Friday, March 14th. Lifesci Capital assumed coverage on shares of Tourmaline Bio in a research report on Monday, February 24th. They issued an "outperform" rating and a $58.00 price objective on the stock. Guggenheim reaffirmed a "buy" rating on shares of Tourmaline Bio in a report on Wednesday, December 11th. Finally, BMO Capital Markets initiated 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.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. acquired a new stake in Tourmaline Bio during the fourth quarter worth approximately $12,168,000. Point72 Asset Management L.P. acquired a new stake in shares of Tourmaline Bio during the 3rd quarter worth $8,701,000. Pictet Asset Management Holding SA increased its position in shares of Tourmaline Bio by 69.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 419,883 shares of the company's stock worth $8,515,000 after purchasing an additional 172,743 shares during the period. Schonfeld Strategic Advisors LLC increased its position in shares of Tourmaline Bio by 50.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 298,239 shares of the company's stock worth $6,048,000 after purchasing an additional 100,139 shares during the period. Finally, Velan Capital Investment Management LP raised its stake in Tourmaline Bio by 28.0% in the fourth quarter. Velan Capital Investment Management LP now owns 423,795 shares of the company's stock valued at $8,595,000 after purchasing an additional 92,605 shares in the last quarter. 91.89% of the stock is owned by institutional investors.

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Tourmaline Bio Price Performance

TRML stock traded down $0.83 during mid-day trading on Friday, reaching $16.51. The company had a trading volume of 284,682 shares, compared to its average volume of 299,889. The company has a market capitalization of $423.24 million, a price-to-earnings ratio of -5.86 and a beta of 2.35. Tourmaline Bio has a 52 week low of $11.87 and a 52 week high of $45.55. The stock has a 50 day simple moving average of $15.58 and a two-hundred day simple moving average of $20.89.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.91) by $0.05. The firm had revenue of $0.04 million for the quarter. On average, equities analysts predict that Tourmaline Bio will post -3.02 EPS 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.