Tourmaline Bio, Inc. (NASDAQ:TRML) Receives $61.80 Average Target Price from Brokerages

Tourmaline Bio, Inc. (NASDAQ:TRML) has received a consensus rating of “Buy” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $61.80.

TRML has been the topic of a number of research analyst reports. Truist Financial reissued a “buy” rating and set a $74.00 price objective on shares of Tourmaline Bio in a report on Monday, March 25th. HC Wainwright restated a “buy” rating and issued a $48.00 price objective on shares of Tourmaline Bio in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group upped their target price on Tourmaline Bio from $41.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th.

Insiders Place Their Bets

In other news, Director Mark Mcdade acquired 100,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was bought at an average price of $32.50 per share, with a total value of $3,250,000.00. Following the completion of the acquisition, the director now owns 448,431 shares of the company’s stock, valued at $14,574,007.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 16.50% of the company’s stock.

Institutional Trading of Tourmaline Bio

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Denali Advisors LLC acquired a new stake in shares of Tourmaline Bio in the first quarter valued at about $128,000. Jump Financial LLC acquired a new stake in Tourmaline Bio during the 4th quarter worth $380,000. Affinity Asset Advisors LLC purchased a new stake in shares of Tourmaline Bio during the fourth quarter worth $1,782,000. BML Capital Management LLC acquired a new position in Tourmaline Bio during the fourth quarter worth about $6,427,000. Finally, RTW Investments LP acquired a new position in Tourmaline Bio during the fourth quarter worth about $10,442,000. 91.89% of the stock is currently owned by hedge funds and other institutional investors.

Tourmaline Bio Stock Performance

Shares of NASDAQ TRML opened at $15.50 on Thursday. Tourmaline Bio has a fifty-two week low of $9.18 and a fifty-two week high of $48.31. The firm has a market capitalization of $397.58 million, a P/E ratio of -1.37 and a beta of 2.33. The business has a 50-day simple moving average of $31.47.

Tourmaline Bio (NASDAQ:TRML) last announced its quarterly earnings data on Tuesday, March 19th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.06). On average, analysts expect that Tourmaline Bio will post -2.9 EPS for the current year.

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.