Tourmaline Bio, Inc. (NASDAQ:TRML) Receives Average Rating of "Buy" from Brokerages

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

Several brokerages have recently weighed in on TRML. Chardan Capital reiterated a "buy" rating and issued a $70.00 price target on shares of Tourmaline Bio in a research report on Monday, May 5th. Wedbush lifted their price target on Tourmaline Bio from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Friday, March 14th. HC Wainwright reiterated a "buy" rating and issued a $50.00 price target on shares of Tourmaline Bio in a research report on Monday, May 5th. Finally, Lifesci Capital began coverage on Tourmaline Bio in a research report on Monday, February 24th. They issued an "outperform" rating and a $58.00 price target for the company.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TRML. Rhumbline Advisers raised its position in Tourmaline Bio by 2.1% during the 4th quarter. Rhumbline Advisers now owns 35,591 shares of the company's stock valued at $722,000 after purchasing an additional 718 shares during the last quarter. Swiss National Bank bought a new position in Tourmaline Bio during the 4th quarter valued at approximately $408,000. American Century Companies Inc. bought a new position in Tourmaline Bio during the 4th quarter valued at approximately $474,000. KLP Kapitalforvaltning AS bought a new position in Tourmaline Bio during the 4th quarter valued at approximately $47,000. Finally, Vanguard Group Inc. raised its position in Tourmaline Bio by 4.1% during the 4th 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 during the last quarter. Institutional investors own 91.89% of the company's stock.

Tourmaline Bio Stock Up 2.3%

TRML stock opened at $17.02 on Tuesday. Tourmaline Bio has a twelve month low of $11.56 and a twelve month high of $29.79. The stock's 50 day moving average is $16.79 and its 200-day moving average is $16.78. The firm has a market capitalization of $437.07 million, a PE ratio of -5.30 and a beta of 2.05.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The company reported ($0.89) EPS for the quarter, topping analysts' consensus estimates of ($0.91) by $0.02. On average, equities research analysts anticipate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.