Tourmaline Bio’s (TRML) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Tourmaline Bio (NASDAQ:TRML) in a research note published on Wednesday,Benzinga reports. The brokerage currently has a $49.00 price target on the stock.

TRML has been the subject of a number of other research reports. Cantor Fitzgerald upgraded Tourmaline Bio to a “strong-buy” rating in a research note on Tuesday, October 15th. 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $54.00.

Tourmaline Bio Trading Down 3.2 %

Shares of NASDAQ TRML opened at $21.81 on Wednesday. The stock has a market capitalization of $559.21 million, a PE ratio of -7.73 and a beta of 2.32. The stock’s fifty day simple moving average is $26.02 and its two-hundred day simple moving average is $19.82. Tourmaline Bio has a 12-month low of $12.12 and a 12-month high of $48.31.

Tourmaline Bio (NASDAQ:TRML) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.78) EPS for the quarter, beating the consensus estimate of ($0.84) by $0.06. On average, equities analysts predict that Tourmaline Bio will post -3.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tourmaline Bio

Several institutional investors have recently bought and sold shares of TRML. Point72 Asset Management L.P. acquired a new stake in Tourmaline Bio in the 3rd quarter worth about $8,701,000. Blue Owl Capital Holdings LP boosted its holdings in shares of Tourmaline Bio by 18.5% during the 2nd quarter. Blue Owl Capital Holdings LP now owns 1,715,401 shares of the company’s stock worth $22,060,000 after purchasing an additional 268,000 shares during the last quarter. State Street Corp boosted its holdings in shares of Tourmaline Bio by 25.6% during the 3rd quarter. State Street Corp now owns 411,980 shares of the company’s stock worth $10,592,000 after purchasing an additional 83,949 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Tourmaline Bio during the 2nd quarter worth approximately $909,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Tourmaline Bio by 184.9% during the 2nd quarter. Renaissance Technologies LLC now owns 100,076 shares of the company’s stock worth $1,287,000 after purchasing an additional 64,950 shares during the last quarter. 91.89% of the stock is currently 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.