Tourmaline Bio, Inc. (NASDAQ:TRML) Given Consensus Recommendation of "Buy" by Analysts

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report) have received an average recommendation of "Buy" from the seven ratings firms that are currently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $49.33.

A number of brokerages recently commented on TRML. Wedbush upped their target price on Tourmaline Bio from $42.00 to $43.00 and gave the company an "outperform" rating in a research note on Friday, March 14th. Lifesci Capital started coverage on Tourmaline Bio in a research note on Monday, February 24th. They set an "outperform" rating and a $58.00 price target on the stock. Chardan Capital reaffirmed a "buy" rating and set a $70.00 price target on shares of Tourmaline Bio in a research note on Monday, May 5th. Finally, HC Wainwright reissued a "buy" rating and issued a $50.00 target price on shares of Tourmaline Bio in a research note on Monday, May 5th.

Tourmaline Bio Stock Up 7.8%

Shares of TRML traded up $1.33 during trading hours on Friday, reaching $18.44. The company's stock had a trading volume of 474,236 shares, compared to its average volume of 275,036. Tourmaline Bio has a 1-year low of $11.56 and a 1-year high of $29.79. The firm has a market cap of $473.63 million, a price-to-earnings ratio of -6.54 and a beta of 2.11. The company has a 50 day moving average of $15.36 and a two-hundred day moving average of $17.43.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $0.02. As a group, analysts forecast that Tourmaline Bio will post -3.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Tourmaline Bio

Large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its position in Tourmaline Bio by 2.1% during the fourth quarter. Rhumbline Advisers now owns 35,591 shares of the company's stock valued at $722,000 after purchasing an additional 718 shares in the last quarter. SG Americas Securities LLC raised its position in Tourmaline Bio by 3.4% during the fourth quarter. SG Americas Securities LLC now owns 34,812 shares of the company's stock valued at $706,000 after purchasing an additional 1,140 shares in the last quarter. Invesco Ltd. increased its holdings 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 during the period. Tower Research Capital LLC TRC increased its holdings in shares of 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 buying an additional 1,232 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Tourmaline Bio by 12.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,378 shares of the company's stock worth $291,000 after buying an additional 1,598 shares during the period. Institutional investors own 91.89% of the company's stock.

About Tourmaline Bio

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.