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Weiss Ratings Reaffirms "Sell (D-)" Rating for Tourmaline Bio (NASDAQ:TRML)

Tourmaline Bio logo with Medical background

Key Points

  • Weiss Ratings has reaffirmed a "Sell (D-)" rating for Tourmaline Bio (NASDAQ:TRML), indicating ongoing concerns about the stock's performance.
  • Multiple analysts, including Truist Financial and Wedbush, have downgraded their ratings and target prices for Tourmaline Bio, with a common price target set at $48.00.
  • Tourmaline Bio's stock has experienced a one-year high of $48.27 and low of $11.56, reflecting significant volatility in its market performance.
  • MarketBeat previews top five stocks to own in November.

Tourmaline Bio (NASDAQ:TRML - Get Free Report)'s stock had its "sell (d-)" rating restated by research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other analysts have also recently commented on the stock. Truist Financial cut shares of Tourmaline Bio from a "buy" rating to a "hold" rating and reduced their target price for the company from $63.00 to $48.00 in a report on Wednesday, September 10th. Wedbush lowered shares of Tourmaline Bio from an "outperform" rating to a "neutral" rating and set a $48.00 price objective for the company. in a research report on Tuesday, September 9th. HC Wainwright lowered shares of Tourmaline Bio from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $50.00 to $48.00 in a research report on Wednesday, September 10th. Lifesci Capital lowered shares of Tourmaline Bio from an "outperform" rating to a "hold" rating and set a $48.00 target price for the company. in a report on Tuesday, September 9th. Finally, Piper Sandler downgraded shares of Tourmaline Bio from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $65.00 to $48.00 in a research note on Thursday, September 11th. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Tourmaline Bio has an average rating of "Hold" and an average price target of $45.65.

Check Out Our Latest Analysis on TRML

Tourmaline Bio Stock Performance

NASDAQ:TRML remained flat at $47.89 during mid-day trading on Wednesday. 399,504 shares of the company traded hands, compared to its average volume of 965,969. Tourmaline Bio has a 1-year low of $11.56 and a 1-year high of $48.27. The company has a 50 day moving average price of $33.92 and a two-hundred day moving average price of $22.62. The stock has a market cap of $1.23 billion, a P/E ratio of -13.96 and a beta of 2.27.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($0.90) EPS for the quarter, topping the consensus estimate of ($0.94) by $0.04. Equities analysts predict that Tourmaline Bio will post -3.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tourmaline Bio

Large investors have recently modified their holdings of the business. QVT Financial LP boosted its position in shares of Tourmaline Bio by 46.2% during the 2nd quarter. QVT Financial LP now owns 2,154,653 shares of the company's stock valued at $34,453,000 after acquiring an additional 681,284 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Tourmaline Bio by 7.7% during the first quarter. Vanguard Group Inc. now owns 1,190,810 shares of the company's stock worth $18,112,000 after acquiring an additional 84,685 shares during the last quarter. Octagon Capital Advisors LP acquired a new stake in shares of Tourmaline Bio during the first quarter worth $13,765,000. Balyasny Asset Management L.P. lifted its holdings in shares of Tourmaline Bio by 2.0% during the second quarter. Balyasny Asset Management L.P. now owns 604,561 shares of the company's stock worth $9,667,000 after purchasing an additional 11,586 shares during the period. Finally, Nantahala Capital Management LLC lifted its holdings in Tourmaline Bio by 4.8% in the second quarter. Nantahala Capital Management LLC now owns 558,187 shares of the company's stock valued at $8,925,000 after acquiring an additional 25,363 shares during the period. Hedge funds and other institutional investors own 91.89% of the company's stock.

About Tourmaline Bio

(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)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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