Tourmaline Bio, Inc. (NASDAQ:TRML) Receives $49.33 Average Price Target from Analysts

Shares of Tourmaline Bio, Inc. (NASDAQ:TRMLGet Free Report) have been assigned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $49.33.

A number of brokerages recently commented on TRML. HC Wainwright reiterated a “buy” rating and issued a $50.00 price target on shares of Tourmaline Bio in a research note on Monday, May 5th. Wedbush boosted their price objective on shares of Tourmaline Bio from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, March 14th. Finally, Chardan Capital reissued a “buy” rating and issued a $70.00 price objective on shares of Tourmaline Bio in a report on Monday, May 5th.

Read Our Latest Analysis on TRML

Tourmaline Bio Trading Down 1.6%

Tourmaline Bio stock opened at $16.71 on Tuesday. The company has a market cap of $429.11 million, a P/E ratio of -5.21 and a beta of 2.04. Tourmaline Bio has a 1-year low of $11.56 and a 1-year high of $29.79. The company has a fifty day simple moving average of $16.89 and a 200 day simple moving average of $16.72.

Tourmaline Bio (NASDAQ:TRMLGet Free Report) last announced its quarterly earnings results on Friday, May 2nd. The company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.02. On average, equities research analysts forecast that Tourmaline Bio will post -3.02 EPS for the current year.

Institutional Trading of Tourmaline Bio

Several large investors have recently made changes to their positions in TRML. Rhumbline Advisers boosted its position in shares of Tourmaline Bio by 2.1% during the 4th quarter. Rhumbline Advisers now owns 35,591 shares of the company’s stock worth $722,000 after acquiring an additional 718 shares in the last quarter. Swiss National Bank bought a new position in Tourmaline Bio in the 4th quarter valued at approximately $408,000. American Century Companies Inc. bought a new position in Tourmaline Bio in the 4th quarter valued at approximately $474,000. KLP Kapitalforvaltning AS bought a new position in Tourmaline Bio in the 4th quarter valued at approximately $47,000. Finally, Vanguard Group Inc. lifted its stake in Tourmaline Bio by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 1,106,125 shares of the company’s stock valued at $22,432,000 after purchasing an additional 43,652 shares during the last quarter. Institutional investors and hedge funds own 91.89% of the company’s stock.

Tourmaline Bio Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Tourmaline Bio (NASDAQ:TRML)

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