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

Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report) has been assigned a consensus rating of "Buy" from the seven research firms that are covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $49.33.

Several analysts have issued reports on TRML shares. Wedbush upped their target price on Tourmaline Bio from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Friday, March 14th. Lifesci Capital assumed coverage on shares of Tourmaline Bio in a report on Monday, February 24th. They issued an "outperform" rating and a $58.00 price objective for the company. Chardan Capital reaffirmed a "buy" rating and set a $70.00 target price on shares of Tourmaline Bio in a research note on Monday. Finally, HC Wainwright reiterated a "buy" rating and issued a $50.00 target price on shares of Tourmaline Bio in a report on Monday.

Institutional Investors Weigh In On Tourmaline Bio

A number of institutional investors have recently made changes to their positions in TRML. Jane Street Group LLC boosted its position in shares of Tourmaline Bio by 211.3% during the 3rd quarter. Jane Street Group LLC now owns 21,705 shares of the company's stock worth $558,000 after purchasing an additional 41,205 shares during the period. Barclays PLC boosted its position in shares of Tourmaline Bio by 283.7% during the third quarter. Barclays PLC now owns 31,833 shares of the company's stock worth $819,000 after buying an additional 23,536 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Tourmaline Bio by 16.5% in the third quarter. JPMorgan Chase & Co. now owns 14,804 shares of the company's stock valued at $381,000 after buying an additional 2,100 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Tourmaline Bio in the 4th quarter valued at $32,000. Finally, SG Americas Securities LLC raised its holdings in shares of Tourmaline Bio by 3.4% in the 4th quarter. SG Americas Securities LLC now owns 34,812 shares of the company's stock valued at $706,000 after buying an additional 1,140 shares during the period. 91.89% of the stock is currently owned by institutional investors and hedge funds.

Tourmaline Bio Price Performance

TRML traded down $0.25 on Monday, reaching $15.49. 33,947 shares of the company's stock were exchanged, compared to its average volume of 323,285. The stock has a market cap of $397.86 million, a PE ratio of -5.49 and a beta of 2.11. Tourmaline Bio has a twelve month low of $11.56 and a twelve month high of $29.79. The stock's fifty day moving average price is $15.43 and its 200-day moving average price is $18.87.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last issued its earnings results on Friday, May 2nd. The company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($0.91) by $0.02. As a group, research analysts predict that Tourmaline Bio will post -3.02 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.