Tourmaline Bio (NASDAQ:TRML) Earns Buy Rating from Analysts at Chardan Capital

Chardan Capital initiated coverage on shares of Tourmaline Bio (NASDAQ:TRML) in a report released on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating and a $70.00 price objective on the stock.

Other analysts have also issued research reports about the company. Wedbush increased their target price on Tourmaline Bio from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, March 14th. HC Wainwright raised their price target on shares of Tourmaline Bio from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Finally, Lifesci Capital assumed coverage on shares of Tourmaline Bio in a report on Monday, February 24th. They set an “outperform” rating and a $58.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tourmaline Bio has an average rating of “Buy” and a consensus price target of $49.33.

Tourmaline Bio Trading Down 2.5 %

Tourmaline Bio stock opened at $16.89 on Wednesday. The firm has a market capitalization of $433.82 million, a PE ratio of -5.99 and a beta of 2.14. Tourmaline Bio has a 12-month low of $11.56 and a 12-month high of $29.79. The firm has a 50-day moving average price of $14.77 and a 200-day moving average price of $19.55.

Tourmaline Bio (NASDAQ:TRML) last announced its quarterly earnings data 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 during the quarter. As a group, sell-side analysts predict that Tourmaline Bio will post -3.02 earnings per share for the current fiscal year.

Institutional Trading of Tourmaline Bio

Several institutional investors and hedge funds have recently made changes to their positions in the company. Brooklyn Investment Group purchased a new position in Tourmaline Bio during the 4th quarter valued at about $32,000. Tower Research Capital LLC TRC lifted its position in shares of Tourmaline Bio by 297.6% in 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 during the period. KLP Kapitalforvaltning AS bought a new position in shares of Tourmaline Bio during the fourth quarter valued at approximately $47,000. Virtus ETF Advisers LLC purchased a new position in Tourmaline Bio during the fourth quarter valued at approximately $64,000. Finally, GAMMA Investing LLC raised its stake in Tourmaline Bio by 4,481.7% in the first quarter. GAMMA Investing LLC now owns 7,514 shares of the company’s stock worth $114,000 after buying an additional 7,350 shares in the last quarter. 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.