Tourmaline Bio (NASDAQ:TRML) Price Target Raised to $50.00

Tourmaline Bio (NASDAQ:TRML) had its price objective hoisted by HC Wainwright from $49.00 to $50.00 in a research note released on Friday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other research firms also recently weighed in on TRML. Wedbush started coverage on shares of Tourmaline Bio in a research report on Thursday, March 6th. They issued an “outperform” rating and a $42.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and set a $25.00 price objective on shares of Tourmaline Bio in a research note on Wednesday, December 11th. BMO Capital Markets initiated coverage on Tourmaline Bio in a research report on Friday, December 6th. They set an “outperform” rating and a $50.00 target price for the company. Guggenheim restated a “buy” rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Finally, Lifesci Capital initiated coverage on shares of Tourmaline Bio in a research report on Monday, February 24th. They set an “outperform” rating and a $58.00 price objective for the company. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $53.14.

Tourmaline Bio Price Performance

Shares of NASDAQ TRML opened at $18.80 on Friday. Tourmaline Bio has a one year low of $11.87 and a one year high of $45.55. The firm has a market cap of $482.09 million, a price-to-earnings ratio of -6.67 and a beta of 2.35. The stock’s fifty day moving average price is $15.71 and its two-hundred day moving average price is $20.88.

Tourmaline Bio (NASDAQ:TRML) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.86) EPS for the quarter, beating the consensus estimate of ($0.91) by $0.05. The business had revenue of $0.04 million during the quarter. On average, equities analysts anticipate that Tourmaline Bio will post -3.02 earnings per share for the current fiscal year.

Institutional Trading of Tourmaline Bio

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in shares of Tourmaline Bio by 6.4% in the third quarter. Geode Capital Management LLC now owns 482,078 shares of the company’s stock worth $12,396,000 after acquiring an additional 29,005 shares during the last quarter. Wellington Management Group LLP lifted its stake in Tourmaline Bio by 72.8% in the 3rd quarter. Wellington Management Group LLP now owns 65,741 shares of the company’s stock valued at $1,690,000 after purchasing an additional 27,707 shares during the last quarter. State Street Corp lifted its stake in Tourmaline Bio by 25.6% in the 3rd quarter. State Street Corp now owns 411,980 shares of the company’s stock valued at $10,592,000 after purchasing an additional 83,949 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Tourmaline Bio by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 63,571 shares of the company’s stock valued at $1,634,000 after buying an additional 2,147 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Tourmaline Bio by 283.7% during the third quarter. Barclays PLC now owns 31,833 shares of the company’s stock worth $819,000 after buying an additional 23,536 shares during the last quarter. 91.89% of the stock is owned by institutional investors and hedge funds.

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.