Wedbush Increases Tourmaline Bio (NASDAQ:TRML) Price Target to $43.00

Tourmaline Bio (NASDAQ:TRML - Free Report) had its price target upped by Wedbush from $42.00 to $43.00 in a report issued on Friday,Benzinga reports. Wedbush currently has an outperform rating on the stock.

Several other research analysts also recently commented on the stock. Lifesci Capital started coverage on shares of Tourmaline Bio in a research note on Monday, February 24th. They issued an "outperform" rating and a $58.00 price target on the stock. Guggenheim reaffirmed a "buy" rating on shares of Tourmaline Bio in a research note on Wednesday, December 11th. BMO Capital Markets assumed coverage on shares of Tourmaline Bio in a research report on Friday, December 6th. They set an "outperform" rating and a $50.00 target price on the stock. 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 report on Friday. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $25.00 target price on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $53.14.

Tourmaline Bio Stock Down 5.1 %

TRML stock traded down $0.93 during trading on Friday, hitting $17.33. The company had a trading volume of 366,595 shares, compared to its average volume of 299,240. The firm has a market capitalization of $444.39 million, a P/E ratio of -6.15 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 company has a 50 day simple moving average of $15.64 and a 200-day simple moving average of $20.88.

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

Institutional Trading of Tourmaline Bio

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of Tourmaline Bio by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 482,078 shares of the company's stock valued at $12,396,000 after buying an additional 29,005 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Tourmaline Bio by 72.8% in the 3rd quarter. Wellington Management Group LLP now owns 65,741 shares of the company's stock valued at $1,690,000 after buying an additional 27,707 shares in the last quarter. State Street Corp boosted its holdings in shares of Tourmaline Bio by 25.6% in the 3rd quarter. State Street Corp now owns 411,980 shares of the company's stock valued at $10,592,000 after buying an additional 83,949 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Tourmaline Bio by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,571 shares of the company's stock valued at $1,634,000 after buying an additional 2,147 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Tourmaline Bio by 283.7% in the 3rd quarter. Barclays PLC now owns 31,833 shares of the company's stock valued at $819,000 after buying an additional 23,536 shares in the last quarter. 91.89% of the stock is currently owned by institutional investors.

About Tourmaline Bio

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.