Tourmaline Bio, Inc. (NASDAQ:TRML) Receives $54.00 Consensus Target Price from Brokerages

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have received an average recommendation of “Buy” from the six analysts that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $54.00.

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

Institutional Investors Weigh In On Tourmaline Bio

A number of institutional investors and hedge funds have recently modified their holdings of TRML. Point72 Asset Management L.P. acquired a new position in shares of Tourmaline Bio in the 3rd quarter worth $8,701,000. Blue Owl Capital Holdings LP boosted its position in shares of Tourmaline Bio by 18.5% in the 2nd quarter. Blue Owl Capital Holdings LP now owns 1,715,401 shares of the company’s stock valued at $22,060,000 after purchasing an additional 268,000 shares during the period. State Street Corp increased its stake in Tourmaline Bio by 25.6% in 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 in the last quarter. Bank of New York Mellon Corp acquired a new stake in Tourmaline Bio during the 2nd quarter worth about $909,000. Finally, Renaissance Technologies LLC lifted its stake in Tourmaline Bio by 184.9% during the second quarter. Renaissance Technologies LLC now owns 100,076 shares of the company’s stock valued at $1,287,000 after buying an additional 64,950 shares in the last quarter. Institutional investors and hedge funds own 91.89% of the company’s stock.

Tourmaline Bio Price Performance

Shares of Tourmaline Bio stock opened at $21.74 on Tuesday. Tourmaline Bio has a 1-year low of $12.12 and a 1-year high of $48.31. The business’s fifty day moving average price is $23.99 and its two-hundred day moving average price is $20.60. The company has a market capitalization of $557.48 million, a P/E ratio of -7.71 and a beta of 2.36.

Tourmaline Bio (NASDAQ:TRML) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.78) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.06. On average, research analysts expect that Tourmaline Bio will post -2.99 earnings per share for the current fiscal year.

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.