Tourmaline Bio (NASDAQ:TRML) Coverage Initiated at Chardan Capital

Chardan Capital assumed coverage on shares of Tourmaline Bio (NASDAQ:TRML - Get Free Report) in a note issued to investors on Wednesday,Benzinga reports. The firm set a "buy" rating and a $70.00 price target on the stock. Chardan Capital's price target would indicate a potential upside of 304.16% from the stock's current price.

A number of other research firms also recently weighed in on TRML. Lifesci Capital assumed coverage on Tourmaline Bio in a research note on Monday, February 24th. They issued an "outperform" rating and a $58.00 price target for the company. HC Wainwright raised their target price on shares of Tourmaline Bio from $49.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, March 14th. Finally, Wedbush upped their price target on shares of Tourmaline Bio from $42.00 to $43.00 and gave the stock an "outperform" rating in a research report on Friday, March 14th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $49.33.

Tourmaline Bio Price Performance

TRML stock opened at $17.32 on Wednesday. The stock has a market capitalization of $444.86 million, a P/E ratio of -6.14 and a beta of 2.14. Tourmaline Bio has a fifty-two week low of $11.56 and a fifty-two week high of $29.79. The business has a 50-day moving average of $14.55 and a 200-day moving average of $19.70.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.86) earnings per share for the quarter, topping analysts' consensus estimates of ($0.91) by $0.05. The firm had revenue of $0.04 million for the quarter. Equities analysts expect that Tourmaline Bio will post -3.02 EPS for the current year.

Institutional Investors Weigh In On Tourmaline Bio

Large investors have recently added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new position in Tourmaline Bio in the 4th quarter valued at about $32,000. Tower Research Capital LLC TRC grew its holdings in shares of Tourmaline Bio by 297.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company's stock worth $33,000 after purchasing an additional 1,232 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Tourmaline Bio during the fourth quarter worth about $47,000. Virtus ETF Advisers LLC bought a new position in Tourmaline Bio in the 4th quarter valued at about $64,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Tourmaline Bio by 4,481.7% during the 1st quarter. GAMMA Investing LLC now owns 7,514 shares of the company's stock worth $114,000 after acquiring an additional 7,350 shares during the period. Institutional investors own 91.89% of the company's stock.

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.

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