Tourmaline Bio's (TRML) "Buy" Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Tourmaline Bio (NASDAQ:TRML - Free Report) in a report published on Tuesday, Benzinga reports. They currently have a $48.00 target price on the stock.

Several other research analysts also recently commented on TRML. Truist Financial reiterated a buy rating and issued a $74.00 target price on shares of Tourmaline Bio in a report on Monday, March 25th. Jefferies Financial Group lifted their price objective on Tourmaline Bio from $41.00 to $72.00 and gave the stock a buy rating in a research note on Wednesday, March 20th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of $61.80.

Tourmaline Bio Stock Down 0.1 %

Shares of NASDAQ:TRML traded down $0.02 during trading on Tuesday, reaching $14.42. 380,336 shares of the company traded hands, compared to its average volume of 371,040. The firm has a fifty day simple moving average of $24.53 and a 200 day simple moving average of $25.97. Tourmaline Bio has a 1-year low of $9.18 and a 1-year high of $48.31. The firm has a market cap of $369.87 million, a P/E ratio of -1.29 and a beta of 2.42.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.68) by $0.13. As a group, research analysts anticipate that Tourmaline Bio will post -2.9 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets acquired a new stake in Tourmaline Bio during the first quarter worth about $31,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Tourmaline Bio by 109.5% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 4,939 shares of the company's stock worth $113,000 after purchasing an additional 2,582 shares in the last quarter. Denali Advisors LLC acquired a new stake in shares of Tourmaline Bio during the 1st quarter worth approximately $128,000. Jump Financial LLC bought a new stake in shares of Tourmaline Bio during the fourth quarter valued at approximately $380,000. Finally, Nan Fung Group Holdings Ltd acquired a new position in shares of Tourmaline Bio in the first quarter valued at $481,000. 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.