Analysts Set Tourmaline Bio, Inc. (NASDAQ:TRML) Target Price at $61.25

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have been given a consensus recommendation of “Buy” by the five brokerages that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $61.25.

A number of research analysts have issued reports on the stock. HC Wainwright boosted their target price on shares of Tourmaline Bio from $48.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Cantor Fitzgerald upgraded Tourmaline Bio to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, BMO Capital Markets started coverage on Tourmaline Bio in a research report on Friday. They issued an “outperform” rating and a $50.00 target price on the stock.

Tourmaline Bio Price Performance

NASDAQ:TRML opened at $25.93 on Friday. The firm has a market capitalization of $664.92 million, a P/E ratio of -9.20 and a beta of 2.32. The business has a 50 day simple moving average of $26.27 and a 200 day simple moving average of $19.55. Tourmaline Bio has a 12-month low of $12.12 and a 12-month high of $48.31.

Tourmaline Bio (NASDAQ:TRML) last posted its earnings results on Thursday, November 7th. The company reported ($0.78) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.06. Research analysts anticipate that Tourmaline Bio will post -3.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Quest Partners LLC raised its holdings in shares of Tourmaline Bio by 134.0% in the 2nd quarter. Quest Partners LLC now owns 3,822 shares of the company’s stock worth $49,000 after purchasing an additional 2,189 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in Tourmaline Bio by 63.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company’s stock worth $127,000 after buying an additional 1,920 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Tourmaline Bio in the third quarter valued at $226,000. Janus Henderson Group PLC acquired a new stake in shares of Tourmaline Bio during the 1st quarter valued at $266,000. Finally, MetLife Investment Management LLC bought a new stake in shares of Tourmaline Bio during the 3rd quarter worth $357,000. Institutional investors own 91.89% of the company’s stock.

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.