Tourmaline Bio’s (TRML) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Tourmaline Bio (NASDAQ:TRML) in a report released on Wednesday,Benzinga reports. The brokerage currently has a $25.00 price objective on the stock.

A number of other equities research analysts also recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $49.00 target price on shares of Tourmaline Bio in a research report on Wednesday. BMO Capital Markets started coverage on Tourmaline Bio in a research report on Friday, December 6th. They set an “outperform” rating and a $50.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $54.00.

Tourmaline Bio Price Performance

TRML stock opened at $21.81 on Wednesday. The stock has a market capitalization of $559.21 million, a P/E ratio of -7.73 and a beta of 2.32. Tourmaline Bio has a 1-year low of $12.12 and a 1-year high of $48.31. The business has a fifty day moving average price of $26.02 and a 200-day moving average price of $19.82.

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 the consensus estimate of ($0.84) by $0.06. As a group, analysts anticipate that Tourmaline Bio will post -3.08 earnings per share for the current year.

Institutional Investors Weigh In On Tourmaline Bio

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quest Partners LLC grew its holdings in Tourmaline Bio by 134.0% during the second quarter. Quest Partners LLC now owns 3,822 shares of the company’s stock valued at $49,000 after purchasing an additional 2,189 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of Tourmaline Bio by 63.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company’s stock valued at $127,000 after acquiring an additional 1,920 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in Tourmaline Bio in the 3rd quarter worth approximately $226,000. MetLife Investment Management LLC bought a new stake in Tourmaline Bio during the 3rd quarter worth approximately $357,000. Finally, California State Teachers Retirement System purchased a new position in Tourmaline Bio during the first quarter valued at approximately $334,000. 91.89% of the stock is currently owned by hedge funds and other institutional investors.

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.