Tourmaline Bio, Inc. (NASDAQ:TRML) Receives $61.25 Consensus Target Price from Analysts

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report) have been given an average rating of "Buy" by the five analysts that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $61.25.

A number of research firms have recently commented on TRML. BMO Capital Markets initiated coverage on shares of Tourmaline Bio in a report on Friday. They issued an "outperform" rating and a $50.00 price target on the stock. HC Wainwright boosted their price objective on shares of Tourmaline Bio from $48.00 to $49.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Finally, Cantor Fitzgerald raised shares of Tourmaline Bio to a "strong-buy" rating in a research report on Tuesday, October 15th.

Tourmaline Bio Stock Performance

NASDAQ TRML traded up $1.90 on Friday, hitting $25.93. 136,158 shares of the stock were exchanged, compared to its average volume of 205,167. Tourmaline Bio has a 52-week low of $12.12 and a 52-week high of $48.31. The firm has a market capitalization of $664.92 million, a P/E ratio of -9.20 and a beta of 2.32. The stock has a fifty day moving average price of $26.27 and a two-hundred day moving average price of $19.47.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.78) EPS for the quarter, topping analysts' consensus estimates of ($0.84) by $0.06. Sell-side analysts expect that Tourmaline Bio will post -3.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC lifted its position 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 worth $49,000 after purchasing an additional 2,189 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in Tourmaline Bio by 63.7% during the third 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 during the period. The Manufacturers Life Insurance Company purchased a new stake in Tourmaline Bio during the third quarter worth $226,000. Janus Henderson Group PLC purchased a new position in shares of Tourmaline Bio in the 1st quarter valued at $266,000. Finally, MetLife Investment Management LLC bought a new position in shares of Tourmaline Bio in the 3rd quarter worth $357,000. 91.89% of the stock is currently owned by institutional investors.

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.