Tourmaline Bio, Inc. (NASDAQ:TRML) Receives Average Rating of “Buy” from Brokerages

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have been given an average rating of “Buy” by the six ratings firms that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $61.80.

Several research analysts recently issued reports on TRML shares. Jefferies Financial Group increased their target price on shares of Tourmaline Bio from $41.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Truist Financial reissued a “buy” rating and set a $74.00 target price on shares of Tourmaline Bio in a research note on Monday, March 25th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Tourmaline Bio in a research note on Tuesday, May 14th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Artal Group S.A. lifted its position in shares of Tourmaline Bio by 244.0% during the first quarter. Artal Group S.A. now owns 314,496 shares of the company’s stock valued at $7,202,000 after purchasing an additional 223,070 shares in the last quarter. California State Teachers Retirement System bought a new position in shares of Tourmaline Bio during the first quarter valued at about $334,000. Janus Henderson Group PLC bought a new position in shares of Tourmaline Bio during the first quarter valued at about $266,000. Darwin Global Management Ltd. bought a new position in shares of Tourmaline Bio during the first quarter valued at about $10,648,000. Finally, Avoro Capital Advisors LLC lifted its position in shares of Tourmaline Bio by 155.9% during the first quarter. Avoro Capital Advisors LLC now owns 2,222,222 shares of the company’s stock valued at $50,889,000 after purchasing an additional 1,353,815 shares in the last quarter. 91.89% of the stock is owned by institutional investors.

Tourmaline Bio Stock Up 6.1 %

TRML opened at $13.30 on Tuesday. The stock has a market cap of $341.11 million, a PE ratio of -2.05 and a beta of 2.30. Tourmaline Bio has a twelve month low of $9.18 and a twelve month high of $48.31. The company has a fifty day moving average of $14.48 and a 200-day moving average of $25.00.

Tourmaline Bio (NASDAQ:TRML) last issued its earnings results on Monday, May 13th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.13. Sell-side analysts anticipate that Tourmaline Bio will post -2.94 EPS 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.