Chardan Capital Begins Coverage on Tourmaline Bio (NASDAQ:TRML)

Equities research analysts at Chardan Capital started coverage on shares of Tourmaline Bio (NASDAQ:TRML - Get Free Report) in a research note issued on Wednesday, Marketbeat Ratings reports. The firm set a "buy" rating and a $70.00 price target on the stock. Chardan Capital's price objective indicates a potential upside of 317.29% from the stock's current price.

Several other research firms have also recently commented on TRML. HC Wainwright increased their target price on Tourmaline Bio from $49.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, March 14th. Lifesci Capital started coverage on shares of Tourmaline Bio in a research report on Monday, February 24th. They issued an "outperform" rating and a $58.00 target price for the company. Finally, Wedbush lifted their price target on Tourmaline Bio from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Friday, March 14th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tourmaline Bio currently has a consensus rating of "Buy" and a consensus target price of $49.33.

Tourmaline Bio Price Performance

TRML traded down $0.12 during trading on Wednesday, reaching $16.78. 125,138 shares of the stock were exchanged, compared to its average volume of 268,026. Tourmaline Bio has a 1 year low of $11.56 and a 1 year high of $29.79. The company has a market capitalization of $430.87 million, a price-to-earnings ratio of -5.94 and a beta of 2.14. The business's 50 day moving average price is $14.77 and its two-hundred day moving average price is $19.44.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.86) earnings per share for the quarter, topping analysts' consensus estimates of ($0.91) by $0.05. The company had revenue of $0.04 million during the quarter. On average, analysts anticipate that Tourmaline Bio will post -3.02 EPS for the current year.

Hedge Funds Weigh In On Tourmaline Bio

Hedge funds have recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in shares of Tourmaline Bio during the 4th quarter worth approximately $32,000. Tower Research Capital LLC TRC raised its holdings in shares of Tourmaline Bio by 297.6% in the 4th 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 in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Tourmaline Bio in the 4th quarter valued at $47,000. Virtus ETF Advisers LLC bought a new position in shares of Tourmaline Bio during the fourth quarter valued at $64,000. Finally, GAMMA Investing LLC boosted its stake in shares of Tourmaline Bio by 4,481.7% in the 1st quarter. GAMMA Investing LLC now owns 7,514 shares of the company's stock valued at $114,000 after purchasing an additional 7,350 shares in the last quarter. Institutional investors and hedge funds own 91.89% of the company's stock.

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.