Tourmaline Bio (NASDAQ:TRML) Price Target Raised to $43.00

Tourmaline Bio (NASDAQ:TRML) had its price target boosted by Wedbush from $42.00 to $43.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other brokerages have also weighed in on TRML. Lifesci Capital initiated coverage on shares of Tourmaline Bio in a research report on Monday, February 24th. They set an “outperform” rating and a $58.00 price objective on the stock. Guggenheim restated a “buy” rating on shares of Tourmaline Bio in a report on Wednesday, December 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price objective on shares of Tourmaline Bio in a report on Wednesday, December 11th. BMO Capital Markets started coverage on shares of Tourmaline Bio in a research report on Friday, December 6th. They set an “outperform” rating and a $50.00 target price on the stock. Finally, HC Wainwright boosted their price target on Tourmaline Bio from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $53.14.

Tourmaline Bio Stock Up 10.3 %

Tourmaline Bio stock opened at $18.80 on Friday. Tourmaline Bio has a 12 month low of $11.87 and a 12 month high of $45.55. The company’s fifty day simple moving average is $15.71 and its 200-day simple moving average is $20.88. The stock has a market cap of $482.09 million, a P/E ratio of -6.67 and a beta of 2.35.

Tourmaline Bio (NASDAQ:TRML) last issued its earnings results on Thursday, March 13th. The company reported ($0.86) EPS for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.05. The firm had revenue of $0.04 million during the quarter. On average, equities research analysts expect that Tourmaline Bio will post -3.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tourmaline Bio

A number of hedge funds have recently bought and sold shares of the company. Rhumbline Advisers increased its stake in shares of Tourmaline Bio by 2.1% in the fourth quarter. Rhumbline Advisers now owns 35,591 shares of the company’s stock worth $722,000 after purchasing an additional 718 shares during the period. SG Americas Securities LLC grew its holdings in Tourmaline Bio by 3.4% in the 4th quarter. SG Americas Securities LLC now owns 34,812 shares of the company’s stock valued at $706,000 after buying an additional 1,140 shares during the last quarter. Invesco Ltd. increased its position in Tourmaline Bio by 10.8% in the 4th quarter. Invesco Ltd. now owns 12,155 shares of the company’s stock worth $247,000 after buying an additional 1,181 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Tourmaline Bio by 297.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company’s stock worth $33,000 after buying an additional 1,232 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of Tourmaline Bio in the fourth quarter valued at approximately $32,000. 91.89% of the stock is currently owned by institutional investors.

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.