Tourmaline Bio, Inc. (NASDAQ:TRML) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have been assigned an average recommendation of “Buy” from the six research firms that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $61.25.

TRML has been the subject of a number of research analyst reports. HC Wainwright lifted their target price on Tourmaline Bio from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, November 11th. BMO Capital Markets started coverage on Tourmaline Bio in a report on Friday. They issued an “outperform” rating and a $50.00 price objective for the company. Finally, Cantor Fitzgerald raised Tourmaline Bio to a “strong-buy” rating in a report on Tuesday, October 15th.

Institutional Investors Weigh In On Tourmaline Bio

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Tourmaline Bio by 19.7% during the first quarter. Vanguard Group Inc. now owns 914,519 shares of the company’s stock valued at $20,942,000 after purchasing an additional 150,767 shares during the period. Blue Owl Capital Holdings LP raised its position in 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 purchasing an additional 268,000 shares during the period. Bank of New York Mellon Corp purchased a new stake in Tourmaline Bio during the second quarter valued at approximately $909,000. Rhumbline Advisers raised its position in Tourmaline Bio by 28,554.3% during the second quarter. Rhumbline Advisers now owns 33,239 shares of the company’s stock valued at $427,000 after purchasing an additional 33,123 shares during the period. Finally, California State Teachers Retirement System purchased a new stake 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 Trading Up 5.5 %

Shares of TRML stock traded up $1.33 during trading hours on Friday, reaching $25.36. The company’s stock had a trading volume of 11,057 shares, compared to its average volume of 293,993. The stock has a market capitalization of $650.23 million, a P/E ratio of -8.97 and a beta of 2.32. Tourmaline Bio has a one year low of $12.12 and a one year high of $48.31. The firm’s fifty day simple moving average is $26.25 and its 200 day simple moving average is $19.39.

Tourmaline Bio (NASDAQ:TRML) last posted its earnings results on Thursday, November 7th. The company reported ($0.78) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.06. As a group, equities research analysts forecast that Tourmaline Bio will post -3.08 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.