Tourmaline Bio (NASDAQ:TRML) Cut to Hold at Lifesci Capital

Key Points

• Lifesci Capital has reaffirmed a "market perform" rating for Tourmaline Bio (NASDAQ:TRML) with a target price of $48.00, suggesting a potential upside of 0.76% from its previous close.
• The stock has surged 57.9%, reaching $47.64, significantly higher than its 1-year low of $11.56, with a market cap of $1.22 billion.
• Tourmaline Bio's quarterly earnings report indicated an EPS of (0.90), surpassing expectations, while analysts forecast a full year EPS of (3.02).

Tourmaline Bio (NASDAQ:TRML - Get Free Report) was downgraded by research analysts at Lifesci Capital from an "outperform" rating to a "hold" rating in a research report issued on Tuesday, Marketbeat Ratings reports. They currently have a $48.00 target price on the stock. Lifesci Capital's target price would suggest a potential upside of 0.82% from the company's previous close.

Other equities research analysts also recently issued research reports about the company. Wedbush downgraded Tourmaline Bio from an "outperform" rating to a "neutral" rating and set a $48.00 price objective for the company. in a report on Tuesday, September 9th. Guggenheim reissued a "buy" rating and issued a $55.00 price objective on shares of Tourmaline Bio in a report on Thursday, August 14th. Finally, Chardan Capital reissued a "buy" rating and issued a $70.00 price objective on shares of Tourmaline Bio in a report on Thursday, August 14th. Two analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $45.85.

Tourmaline Bio Stock Up 0.0%

Shares of NASDAQ TRML traded up $0.01 during trading hours on Tuesday, hitting $47.61. The company had a trading volume of 988,444 shares, compared to its average volume of 1,560,002. The stock has a market capitalization of $1.22 billion, a P/E ratio of -13.88 and a beta of 2.04. Tourmaline Bio has a 1-year low of $11.56 and a 1-year high of $47.70. The firm's 50 day moving average is $23.54 and its 200-day moving average is $18.62.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($0.94) by $0.04. On average, sell-side analysts predict that Tourmaline Bio will post -3.02 earnings per share for the current year.

Institutional Investors Weigh In On Tourmaline Bio

A number of large investors have recently added to or reduced their stakes in the business. 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 in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Tourmaline Bio by 34.1% during the second quarter. BNP Paribas Financial Markets now owns 2,103 shares of the company's stock worth $34,000 after buying an additional 535 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Tourmaline Bio by 35.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,214 shares of the company's stock worth $51,000 after buying an additional 846 shares in the last quarter. Brooklyn Investment Group lifted its holdings in shares of Tourmaline Bio by 148.9% during the first quarter. Brooklyn Investment Group now owns 3,923 shares of the company's stock worth $60,000 after buying an additional 2,347 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Tourmaline Bio by 4,481.7% during the first quarter. GAMMA Investing LLC now owns 7,514 shares of the company's stock worth $114,000 after buying an additional 7,350 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.