Analysts Set Tourmaline Bio, Inc. (NASDAQ:TRML) Price Target at $61.80

Tourmaline Bio, Inc. (NASDAQ:TRML) has earned an average recommendation of “Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have covered the stock in the last year is $61.80.

A number of equities research analysts recently weighed in on the stock. Truist Financial reaffirmed a “buy” rating and issued a $74.00 target price on shares of Tourmaline Bio in a research note on Monday, March 25th. HC Wainwright reaffirmed a “buy” rating and issued a $48.00 target price on shares of Tourmaline Bio in a research note on Tuesday, May 14th. Finally, Jefferies Financial Group raised their target price on shares of Tourmaline Bio from $41.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Artal Group S.A. grew its holdings in shares of Tourmaline Bio by 244.0% in the first quarter. Artal Group S.A. now owns 314,496 shares of the company’s stock worth $7,202,000 after purchasing an additional 223,070 shares during the last quarter. California State Teachers Retirement System bought a new position in shares of Tourmaline Bio in the first quarter worth approximately $334,000. Janus Henderson Group PLC bought a new position in shares of Tourmaline Bio in the first quarter worth approximately $266,000. Darwin Global Management Ltd. bought a new position in shares of Tourmaline Bio in the first quarter worth approximately $10,648,000. Finally, Avoro Capital Advisors LLC grew its holdings in shares of Tourmaline Bio by 155.9% in the first quarter. Avoro Capital Advisors LLC now owns 2,222,222 shares of the company’s stock worth $50,889,000 after purchasing an additional 1,353,815 shares during the last quarter. 91.89% of the stock is currently owned by institutional investors.

Tourmaline Bio Trading Up 2.2 %

Shares of Tourmaline Bio stock opened at $12.83 on Tuesday. Tourmaline Bio has a 12-month low of $9.18 and a 12-month high of $48.31. The company has a market cap of $329.09 million, a price-to-earnings ratio of -1.97 and a beta of 2.30. The company’s 50-day moving average price is $14.58 and its 200-day moving average price is $25.01.

Tourmaline Bio (NASDAQ:TRML) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.13. On average, sell-side analysts predict that Tourmaline Bio will post -2.94 earnings per share 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.