BMO Capital Markets started coverage on shares of Tourmaline Bio (NASDAQ:TRML – Free Report) in a research report sent to investors on Friday, MarketBeat reports. The firm issued an outperform rating and a $50.00 price target on the stock.
A number of other equities research analysts also recently commented on TRML. HC Wainwright lifted their price target on shares of Tourmaline Bio from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Cantor Fitzgerald raised shares of Tourmaline Bio to a “strong-buy” rating in a research note on Tuesday, October 15th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $61.25.
Get Our Latest Analysis on TRML
Tourmaline Bio Price Performance
Tourmaline Bio (NASDAQ:TRML – Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.78) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.06. On average, equities analysts expect that Tourmaline Bio will post -3.08 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Tourmaline Bio
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC grew its stake in shares of Tourmaline Bio by 283.7% during the 3rd quarter. Barclays PLC now owns 31,833 shares of the company’s stock valued at $819,000 after buying an additional 23,536 shares during the period. Geode Capital Management LLC grew its position in Tourmaline Bio by 6.4% during the third quarter. Geode Capital Management LLC now owns 482,078 shares of the company’s stock valued at $12,396,000 after acquiring an additional 29,005 shares during the period. Jane Street Group LLC increased its stake in Tourmaline Bio by 211.3% during the third quarter. Jane Street Group LLC now owns 21,705 shares of the company’s stock worth $558,000 after acquiring an additional 41,205 shares during the last quarter. Wellington Management Group LLP increased its stake in Tourmaline Bio by 72.8% during the third quarter. Wellington Management Group LLP now owns 65,741 shares of the company’s stock worth $1,690,000 after acquiring an additional 27,707 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Tourmaline Bio by 25.6% in the 3rd quarter. State Street Corp now owns 411,980 shares of the company’s stock worth $10,592,000 after purchasing an additional 83,949 shares during the period. Institutional investors and hedge funds own 91.89% of the company’s stock.
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.
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