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

Tourmaline Bio (NASDAQ:TRML - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Chardan Capital in a research report issued on Monday,Benzinga reports. They currently have a $70.00 price target on the stock. Chardan Capital's price objective would indicate a potential upside of 329.45% from the company's current price.

Several other analysts also recently commented on the company. Lifesci Capital began coverage on Tourmaline Bio in a research note on Monday, February 24th. They set an "outperform" rating and a $58.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and set a $50.00 price objective on shares of Tourmaline Bio in a research report on Monday. Finally, Wedbush boosted their target price on Tourmaline Bio from $42.00 to $43.00 and gave the stock an "outperform" rating in a research report on Friday, March 14th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $49.33.

Tourmaline Bio Price Performance

TRML opened at $16.30 on Monday. Tourmaline Bio has a 1 year low of $11.56 and a 1 year high of $29.79. The stock has a 50-day moving average price of $15.22 and a 200-day moving average price of $19.10. The firm has a market cap of $418.67 million, a PE ratio of -5.78 and a beta of 2.14.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last issued its 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. As a group, sell-side analysts anticipate that Tourmaline Bio will post -3.02 EPS for the current year.

Institutional Trading of Tourmaline Bio

Hedge funds have recently bought and sold shares of the company. Brooklyn Investment Group bought a new stake in shares of Tourmaline Bio during the 4th quarter valued at about $32,000. Tower Research Capital LLC TRC grew its position in Tourmaline Bio by 297.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company's stock valued at $33,000 after buying an additional 1,232 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Tourmaline Bio during the fourth quarter valued at approximately $47,000. Virtus ETF Advisers LLC purchased a new stake in Tourmaline Bio during the fourth quarter valued at approximately $64,000. Finally, GAMMA Investing LLC raised its position in Tourmaline Bio by 4,481.7% in the first quarter. GAMMA Investing LLC now owns 7,514 shares of the company's stock worth $114,000 after acquiring an additional 7,350 shares during the period. Hedge funds and other 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.

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