Tourmaline Bio, Inc. (NASDAQ:TRML) Given Consensus Rating of “Buy” by Analysts

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have earned a consensus recommendation of “Buy” from the six research firms that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have issued a report on the stock in the last year is $54.00.

A number of equities research analysts have recently issued reports on the stock. Guggenheim reissued a “buy” rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. HC Wainwright reissued a “buy” rating and set a $49.00 price target on shares of Tourmaline Bio in a report on Wednesday, December 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $25.00 price objective on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Finally, BMO Capital Markets initiated coverage on Tourmaline Bio in a research note on Friday, December 6th. They set an “outperform” rating and a $50.00 price objective for the company.

Tourmaline Bio Price Performance

TRML stock opened at $20.08 on Tuesday. Tourmaline Bio has a 1 year low of $12.12 and a 1 year high of $48.31. The stock’s fifty day moving average price is $24.82 and its 200-day moving average price is $20.39. The company has a market cap of $514.91 million, a P/E ratio of -7.12 and a beta of 2.32.

Tourmaline Bio (NASDAQ:TRML) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.78) EPS for the quarter, beating the consensus estimate of ($0.84) by $0.06. As a group, analysts expect that Tourmaline Bio will post -2.99 earnings per share for the current year.

Hedge Funds Weigh In On Tourmaline Bio

A number of hedge funds have recently made changes to their positions in the business. Quest Partners LLC lifted its holdings in Tourmaline Bio by 134.0% in the 2nd quarter. Quest Partners LLC now owns 3,822 shares of the company’s stock worth $49,000 after purchasing an additional 2,189 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Tourmaline Bio by 63.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company’s stock worth $127,000 after buying an additional 1,920 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Tourmaline Bio during the third quarter worth $226,000. MetLife Investment Management LLC purchased a new position in Tourmaline Bio during the third quarter valued at $357,000. Finally, JPMorgan Chase & Co. grew its stake in Tourmaline Bio by 16.5% during the third quarter. JPMorgan Chase & Co. now owns 14,804 shares of the company’s stock valued at $381,000 after acquiring an additional 2,100 shares in the last quarter. Institutional investors 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.