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

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for Tourmaline Bio (NASDAQ:TRML), indicating a bearish outlook for the company's stock.
• Various research firms have adjusted their ratings and target prices for Tourmaline Bio, with most settling at $48.00, reflecting a cautious approach from multiple analysts.
• Tourmaline Bio's stock currently has an average rating of "Hold" and a consensus price target of $45.65, with significant institutional ownership at approximately 91.89%.

Tourmaline Bio (NASDAQ:TRML - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

Several other research firms have also weighed in on TRML. Guggenheim restated a "neutral" rating and issued a $48.00 target price (down from $55.00) on shares of Tourmaline Bio in a report on Wednesday, September 10th. Lifesci Capital lowered 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. BMO Capital Markets lowered Tourmaline Bio from an "outperform" rating to a "market perform" rating and boosted their target price for the stock from $35.00 to $48.00 in a report on Monday, September 15th. HC Wainwright lowered Tourmaline Bio from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $50.00 to $48.00 in a report on Wednesday, September 10th. Finally, Jefferies Financial Group lowered Tourmaline Bio from a "buy" rating to a "hold" rating and reduced their target price for the stock from $64.00 to $47.50 in a report on Tuesday, September 9th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Tourmaline Bio presently has an average rating of "Hold" and a consensus price target of $45.65.

Tourmaline Bio Stock Performance

Shares of Tourmaline Bio stock traded up $0.02 during trading on Friday, hitting $47.98. 628,776 shares of the stock traded hands, compared to its average volume of 672,329. The stock has a market cap of $1.23 billion, a P/E ratio of -13.99 and a beta of 2.27. Tourmaline Bio has a twelve month low of $11.56 and a twelve month high of $48.27. The company has a fifty day moving average price of $40.19 and a two-hundred day moving average price of $25.36.

Tourmaline Bio (NASDAQ:TRML - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.94) by $0.04. On average, equities research analysts expect that Tourmaline Bio will post -3.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC bought a new position in Tourmaline Bio in the 1st quarter worth approximately $158,000. Wesbanco Bank Inc. bought a new stake in shares of Tourmaline Bio during the second quarter valued at approximately $416,000. American Century Companies Inc. increased its position in shares of Tourmaline Bio by 54.2% during the first quarter. American Century Companies Inc. now owns 36,018 shares of the company's stock valued at $548,000 after purchasing an additional 12,661 shares during the period. Octagon Capital Advisors LP bought a new stake in shares of Tourmaline Bio during the first quarter valued at approximately $13,765,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Tourmaline Bio during the first quarter valued at approximately $380,000. 91.89% of the stock is owned by institutional investors.

About Tourmaline Bio

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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