Tourmaline Bio's (TRML) Buy Rating Reiterated at Chardan Capital

Key Points

• Chardan Capital has restated its "buy" rating for Tourmaline Bio (NASDAQ:TRML), setting a price target of $70.00, indicating a potential upside of 223.61% from the current stock price.
• Other analysts, including Guggenheim and HC Wainwright, have also rated the stock as a buy, with target prices of $55.00 and $50.00 respectively.
• Tourmaline Bio reported a loss of $0.90 per share in its latest quarterly earnings, slightly beating analysts' expectations, while institutional investors hold 91.89% of the company's stock.

Tourmaline Bio (NASDAQ:TRML - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at Chardan Capital in a note issued to investors on Thursday,Benzinga reports. They presently have a $70.00 price target on the stock. Chardan Capital's price objective would suggest a potential upside of 212.92% from the company's previous close.

A number of other brokerages have also recently commented on TRML. Guggenheim reiterated a "buy" rating and issued a $55.00 price target on shares of Tourmaline Bio in a research note on Thursday, August 14th. HC Wainwright reaffirmed a "buy" rating and set a $50.00 price objective on shares of Tourmaline Bio in a research note on Monday, May 5th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $50.14.

Tourmaline Bio Trading Up 0.9%

Shares of TRML traded up $0.20 during mid-day trading on Thursday, reaching $22.37. The company's stock had a trading volume of 127,671 shares, compared to its average volume of 219,485. The stock has a market cap of $574.46 million, a P/E ratio of -6.52 and a beta of 2.04. The business has a 50-day simple moving average of $19.18 and a two-hundred day simple moving average of $16.65. Tourmaline Bio has a 1-year low of $11.56 and a 1-year high of $29.79.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last issued its earnings results on Wednesday, August 13th. The company reported ($0.90) earnings per share for the quarter, beating analysts' consensus estimates of ($0.94) by $0.04. Research analysts anticipate that Tourmaline Bio will post -3.02 EPS for the current year.

Institutional Trading of Tourmaline Bio

Several hedge funds have recently bought and sold shares of TRML. Tower Research Capital LLC TRC boosted its stake in 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 purchasing an additional 1,232 shares during the period. BNP Paribas Financial Markets boosted its holdings in Tourmaline Bio by 34.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,103 shares of the company's stock valued at $34,000 after acquiring an additional 535 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Tourmaline Bio by 35.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,214 shares of the company's stock valued at $51,000 after buying an additional 846 shares in the last quarter. Brooklyn Investment Group increased its position in Tourmaline Bio by 148.9% during the 1st quarter. Brooklyn Investment Group now owns 3,923 shares of the company's stock valued at $60,000 after purchasing an additional 2,347 shares during the period. Finally, Virtus ETF Advisers LLC purchased a new stake in Tourmaline Bio during the fourth quarter worth $64,000. Institutional investors 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.