Tourmaline Bio (NASDAQ:TRML) Given New $50.00 Price Target at HC Wainwright

Tourmaline Bio (NASDAQ:TRML - Free Report) had its price objective upped by HC Wainwright from $49.00 to $50.00 in a research report released on Friday morning, MarketBeat Ratings reports. HC Wainwright currently has a buy rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Lifesci Capital began coverage on shares of Tourmaline Bio in a report on Monday, February 24th. They issued an "outperform" rating and a $58.00 price objective for the company. Wedbush assumed coverage on Tourmaline Bio in a research note on Thursday, March 6th. They issued an "outperform" rating and a $42.00 price target for the company. BMO Capital Markets began coverage on Tourmaline Bio in a research report on Friday, December 6th. They set an "outperform" rating and a $50.00 price target on the stock. Guggenheim reissued a "buy" rating on shares of Tourmaline Bio in a report on Wednesday, December 11th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $25.00 target price on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $53.14.

Tourmaline Bio Stock Performance

Tourmaline Bio stock traded down $0.93 during midday trading on Friday, hitting $17.33. 366,595 shares of the company were exchanged, compared to its average volume of 299,240. The business has a fifty day simple moving average of $15.64 and a two-hundred day simple moving average of $20.88. The firm has a market capitalization of $444.39 million, a PE ratio of -6.15 and a beta of 2.35. Tourmaline Bio has a fifty-two week low of $11.87 and a fifty-two week high of $45.55.

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

Institutional Investors Weigh In On Tourmaline Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRML. Brooklyn Investment Group acquired a new stake in shares of Tourmaline Bio in the fourth quarter valued at about $32,000. Tower Research Capital LLC TRC grew its stake in Tourmaline Bio by 297.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company's stock valued at $33,000 after acquiring an additional 1,232 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Tourmaline Bio in the 4th quarter valued at about $47,000. Virtus ETF Advisers LLC acquired a new stake in Tourmaline Bio in the 4th quarter valued at about $64,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Tourmaline Bio in the 3rd quarter worth approximately $226,000. Institutional investors and hedge funds 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.