Analysts Set Tourmaline Bio, Inc. (NASDAQ:TRML) Price Target at $54.00

Tourmaline Bio, Inc. (NASDAQ:TRML) has been given a consensus rating of “Buy” by the six ratings firms that are covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have covered the stock in the last year is $54.00.

Several research firms have recently issued reports on TRML. Guggenheim reiterated a “buy” rating on shares of Tourmaline Bio in a report on Wednesday, December 11th. BMO Capital Markets began coverage on Tourmaline Bio in a research report on Friday, December 6th. They set an “outperform” rating and a $50.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $49.00 target price on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price target on shares of Tourmaline Bio in a research report on Wednesday, December 11th.

Institutional Investors Weigh In On Tourmaline Bio

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Blue Owl Capital Holdings LP grew its holdings in shares of Tourmaline Bio by 18.5% during the second quarter. Blue Owl Capital Holdings LP now owns 1,715,401 shares of the company’s stock valued at $22,060,000 after buying an additional 268,000 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Tourmaline Bio by 2.2% during the 3rd quarter. Jennison Associates LLC now owns 1,151,973 shares of the company’s stock valued at $29,617,000 after buying an additional 24,282 shares during the period. Geode Capital Management LLC grew its holdings in shares of Tourmaline Bio by 6.4% during the 3rd 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 in the last quarter. State Street Corp increased its stake in shares of Tourmaline Bio by 25.6% in the third quarter. State Street Corp now owns 411,980 shares of the company’s stock worth $10,592,000 after acquiring an additional 83,949 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Tourmaline Bio during the third quarter worth $8,701,000. 91.89% of the stock is owned by institutional investors and hedge funds.

Tourmaline Bio Trading Up 1.8 %

NASDAQ TRML opened at $20.64 on Tuesday. Tourmaline Bio has a 52 week low of $12.12 and a 52 week high of $48.31. The stock has a market cap of $529.27 million, a price-to-earnings ratio of -7.32 and a beta of 2.32. The company has a 50-day moving average price of $24.20 and a two-hundred day moving average price of $20.44.

Tourmaline Bio (NASDAQ:TRML) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.78) EPS for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.06. As a group, equities research analysts expect that Tourmaline Bio will post -2.99 earnings per share for the current fiscal year.

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.