Tourmaline Bio (NASDAQ:TRML) Receives Buy Rating from Guggenheim

Tourmaline Bio (NASDAQ:TRML)‘s stock had its “buy” rating restated by Guggenheim in a report released on Wednesday,Benzinga reports.

Several other research firms have also recently weighed in on TRML. BMO Capital Markets began coverage on shares of Tourmaline Bio in a research note on Friday, December 6th. They set an “outperform” rating and a $50.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $25.00 price objective on shares of Tourmaline Bio in a report on Wednesday. Finally, HC Wainwright restated a “buy” rating and issued a $49.00 price target on shares of Tourmaline Bio in a report on Wednesday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $54.00.

Tourmaline Bio Trading Down 7.6 %

TRML stock opened at $22.52 on Wednesday. The firm’s 50-day moving average price is $26.12 and its two-hundred day moving average price is $19.76. The stock has a market capitalization of $577.48 million, a price-to-earnings ratio of -7.99 and a beta of 2.32. Tourmaline Bio has a 12-month low of $12.12 and a 12-month high of $48.31.

Tourmaline Bio (NASDAQ:TRML) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.78) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.06. Equities analysts predict that Tourmaline Bio will post -3.08 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TRML. Blue Owl Capital Holdings LP boosted its stake in shares of Tourmaline Bio by 18.5% in the second quarter. Blue Owl Capital Holdings LP now owns 1,715,401 shares of the company’s stock worth $22,060,000 after buying an additional 268,000 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Tourmaline Bio by 2.2% during the third quarter. Jennison Associates LLC now owns 1,151,973 shares of the company’s stock worth $29,617,000 after purchasing an additional 24,282 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Tourmaline Bio by 6.4% during the third quarter. Geode Capital Management LLC now owns 482,078 shares of the company’s stock valued at $12,396,000 after acquiring an additional 29,005 shares during the last quarter. State Street Corp lifted its position in shares of Tourmaline Bio by 25.6% in the third quarter. State Street Corp now owns 411,980 shares of the company’s stock valued at $10,592,000 after acquiring an additional 83,949 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Tourmaline Bio during the third quarter worth approximately $8,701,000. 91.89% of the stock is owned by institutional investors and hedge funds.

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.