Analysts Set Tourmaline Bio, Inc. (NASDAQ:TRML) PT at $54.00

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have earned a consensus recommendation of “Buy” from the six research firms that are covering the company, MarketBeat reports. Six research analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have covered the stock in the last year is $54.00.

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

Institutional Investors Weigh In On Tourmaline Bio

Institutional investors have recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in shares of Tourmaline Bio during the 4th quarter worth approximately $32,000. China Universal Asset Management Co. Ltd. increased its position in 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 during the period. The Manufacturers Life Insurance Company bought a new stake in Tourmaline Bio in the third quarter valued at $226,000. Quest Partners LLC boosted its holdings in shares of Tourmaline Bio by 145.4% during the third quarter. Quest Partners LLC now owns 9,381 shares of the company’s stock valued at $241,000 after acquiring an additional 5,559 shares during the period. Finally, MetLife Investment Management LLC bought a new position in shares of Tourmaline Bio during the third quarter worth about $357,000. 91.89% of the stock is currently owned by institutional investors.

Tourmaline Bio Price Performance

NASDAQ:TRML opened at $17.00 on Friday. The business’s 50-day moving average is $21.52 and its two-hundred day moving average is $21.12. The firm has a market capitalization of $435.88 million, a PE ratio of -6.03 and a beta of 2.36. 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 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. Equities analysts anticipate that Tourmaline Bio will post -2.99 EPS for the current year.

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.