Brokerages Set Tourmaline Bio, Inc. (NASDAQ:TRML) Target Price at $49.33

Key Points

• Tourmaline Bio, Inc. has received a consensus rating of "Buy" from seven analysts, with an average price target of $49.33.
• Institutional investors continue to increase their holdings in Tourmaline Bio, with notable increases from firms like Invesco and Tower Research Capital.
• The company's stock price recently rose 2.3% and currently trades at approximately $21.48, with a market capitalization of $551.61 million.

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report) have received a consensus recommendation of "Buy" from the seven research firms that are covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $50.1429.

A number of equities research analysts recently commented on the stock. Chardan Capital reissued a "buy" rating and set a $70.00 target price on shares of Tourmaline Bio in a research report on Thursday. Guggenheim reissued a "buy" rating and set a $55.00 target price on shares of Tourmaline Bio in a research report on Thursday. Finally, HC Wainwright reiterated a "buy" rating and issued a $50.00 price objective on shares of Tourmaline Bio in a research note on Monday, May 5th.

Institutional Trading of Tourmaline Bio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Tourmaline Bio by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 1,106,125 shares of the company's stock valued at $22,432,000 after purchasing an additional 43,652 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Tourmaline Bio by 39.7% in the fourth quarter. Alliancebernstein L.P. now owns 12,950 shares of the company's stock worth $263,000 after buying an additional 3,680 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Tourmaline Bio by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 13,549 shares of the company's stock worth $275,000 after buying an additional 2,951 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Tourmaline Bio by 10.8% in the fourth quarter. Invesco Ltd. now owns 12,155 shares of the company's stock worth $247,000 after buying an additional 1,181 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Tourmaline Bio by 197.4% during the fourth quarter. Legal & General Group Plc now owns 15,443 shares of the company's stock worth $313,000 after purchasing an additional 10,250 shares during the period. Institutional investors and hedge funds own 91.89% of the company's stock.

Tourmaline Bio Stock Performance

NASDAQ:TRML traded up $0.18 during midday trading on Wednesday, reaching $22.57. 122,404 shares of the stock traded hands, compared to its average volume of 212,506. Tourmaline Bio has a 12-month low of $11.56 and a 12-month high of $29.79. The business has a 50-day moving average of $19.05 and a two-hundred day moving average of $16.57. The stock has a market capitalization of $579.60 million, a PE ratio of -6.58 and a beta of 2.04.

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