Tourmaline Bio (NASDAQ:TRML) Stock Price Expected to Rise, HC Wainwright Analyst Says

Tourmaline Bio (NASDAQ:TRMLGet Free Report) had its target price hoisted by equities research analysts at HC Wainwright from $48.00 to $49.00 in a report released on Monday, MarketBeat reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 87.31% from the company’s current price.

Separately, Cantor Fitzgerald upgraded shares of Tourmaline Bio to a “strong-buy” rating in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tourmaline Bio currently has an average rating of “Buy” and a consensus price target of $65.00.

Read Our Latest Stock Report on Tourmaline Bio

Tourmaline Bio Stock Down 7.6 %

TRML stock opened at $26.16 on Monday. Tourmaline Bio has a twelve month low of $12.12 and a twelve month high of $48.31. The company has a market cap of $670.77 million, a PE ratio of -9.28 and a beta of 2.36. The business’s 50-day simple moving average is $24.64 and its 200 day simple moving average is $18.32.

Tourmaline Bio (NASDAQ:TRMLGet Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.78) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.06. On average, equities research analysts anticipate that Tourmaline Bio will post -3.08 EPS for the current year.

Insider Buying and Selling at Tourmaline Bio

In related news, CEO Sandeep Chidambar Kulkarni acquired 5,221 shares of the business’s stock in a transaction on Friday, August 16th. The stock was bought at an average cost of $13.79 per share, with a total value of $71,997.59. Following the completion of the acquisition, the chief executive officer now owns 5,221 shares in the company, valued at $71,997.59. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 11.02% of the company’s stock.

Institutional Trading of Tourmaline Bio

Hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in Tourmaline Bio during the 1st quarter worth approximately $31,000. Swiss National Bank acquired a new stake in shares of Tourmaline Bio in the first quarter valued at $733,000. Vanguard Group Inc. raised its holdings in shares of Tourmaline Bio by 19.7% in the first quarter. Vanguard Group Inc. now owns 914,519 shares of the company’s stock valued at $20,942,000 after buying an additional 150,767 shares during the last quarter. StemPoint Capital LP acquired a new position in Tourmaline Bio during the 1st quarter worth about $6,280,000. Finally, Nan Fung Group Holdings Ltd bought a new stake in Tourmaline Bio during the 1st quarter worth about $481,000. Institutional investors and hedge funds own 91.89% of the company’s stock.

About Tourmaline Bio

(Get Free Report)

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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Analyst Recommendations for Tourmaline Bio (NASDAQ:TRML)

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