Tourmaline Bio (NASDAQ:TRML) Rating Lowered 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 report released on Tuesday, Marketbeat reports. They presently have a $48.00 target price on the stock. Lifesci Capital's price objective suggests a potential upside of 0.72% from the company's current price.

Other research analysts also recently issued reports about the stock. Chardan Capital restated a "buy" rating and issued a $70.00 target price on shares of Tourmaline Bio in a research note on Thursday, August 14th. Guggenheim reaffirmed a "buy" rating and set a $55.00 price target on shares of Tourmaline Bio in a research note on Thursday, August 14th. Finally, Wedbush downgraded shares of Tourmaline Bio from an "outperform" rating to a "neutral" rating and set a $48.00 price target on the stock. in a research note on Tuesday. Two analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $45.85.

Tourmaline Bio Trading Up 0.1%

Shares of TRML traded up $0.06 during midday trading on Tuesday, reaching $47.66. 657,770 shares of the company were exchanged, compared to its average volume of 442,164. The stock has a 50-day moving average price of $22.92 and a 200-day moving average price of $18.34. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -13.89 and a beta of 2.04. Tourmaline Bio has a 1-year low of $11.56 and a 1-year high of $47.70.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.90) EPS for the quarter, topping analysts' consensus estimates of ($0.94) by $0.04. Equities research analysts anticipate that Tourmaline Bio will post -3.02 earnings per share for the current year.

Hedge Funds Weigh In On Tourmaline Bio

Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its stake in Tourmaline Bio by 297.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company's stock worth $33,000 after purchasing an additional 1,232 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Tourmaline Bio by 34.1% in the second quarter. BNP Paribas Financial Markets now owns 2,103 shares of the company's stock worth $34,000 after purchasing an additional 535 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Tourmaline Bio by 35.7% in the second quarter. Tower Research Capital LLC TRC now owns 3,214 shares of the company's stock worth $51,000 after purchasing an additional 846 shares in the last quarter. Brooklyn Investment Group raised 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 purchasing an additional 2,347 shares during the period. Finally, GAMMA Investing LLC raised 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 purchasing an additional 7,350 shares during the period. 91.89% of the stock is currently owned by institutional investors and hedge funds.

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.