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

Tourmaline Bio logo with Medical background

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report) have been given a consensus rating of "Buy" by the seven analysts that are covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have covered the stock in the last year is $49.33.

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

Check Out Our Latest Report on Tourmaline Bio

Tourmaline Bio Trading Up 1.8%

Shares of NASDAQ:TRML traded up $0.30 during midday trading on Friday, hitting $16.81. 297,228 shares of the stock were exchanged, compared to its average volume of 272,550. The stock has a market cap of $431.76 million, a P/E ratio of -5.96 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 company has a 50 day moving average price of $15.33 and a 200-day moving average price of $17.60.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.91) by $0.02. On average, equities research analysts expect that Tourmaline Bio will post -3.02 earnings per share for the current year.

Hedge Funds Weigh In On Tourmaline Bio

A number of institutional investors have recently made changes to their positions in the business. QVT Financial LP raised its position in shares of Tourmaline Bio by 107.1% in the 1st quarter. QVT Financial LP now owns 1,473,369 shares of the company's stock valued at $22,410,000 after purchasing an additional 762,094 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Tourmaline Bio by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 1,190,810 shares of the company's stock valued at $18,112,000 after acquiring an additional 84,685 shares in the last quarter. Octagon Capital Advisors LP acquired a new stake in shares of Tourmaline Bio during the 1st quarter valued at approximately $13,765,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Tourmaline Bio during the 4th quarter valued at approximately $12,168,000. Finally, Velan Capital Investment Management LP raised its position in shares of Tourmaline Bio by 7.5% during the 1st quarter. Velan Capital Investment Management LP now owns 455,412 shares of the company's stock valued at $6,927,000 after acquiring an additional 31,617 shares in the last quarter. 91.89% of the stock is owned by institutional investors and hedge funds.

Tourmaline Bio Company Profile

(Get Free Report

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.

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Analyst Recommendations for Tourmaline Bio (NASDAQ:TRML)

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