Tourmaline Bio, Inc. (NASDAQ:TRML) Receives $54.00 Average PT from Analysts

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have earned a consensus rating of “Buy” from the six analysts that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $54.00.

A number of analysts have recently commented on TRML shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 price objective on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Guggenheim reissued a “buy” rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. BMO Capital Markets began coverage on shares of Tourmaline Bio in a research note on Friday, December 6th. They set an “outperform” rating and a $50.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $49.00 target price on shares of Tourmaline Bio in a research report on Wednesday, December 11th.

Tourmaline Bio Price Performance

TRML opened at $21.43 on Tuesday. The company has a market capitalization of $549.53 million, a price-to-earnings ratio of -7.60 and a beta of 2.36. The business’s 50-day moving average price is $24.10 and its two-hundred day moving average price is $20.52. Tourmaline Bio has a 1 year low of $12.12 and a 1 year high of $48.31.

Tourmaline Bio (NASDAQ:TRML) last announced its earnings results on Thursday, November 7th. The company reported ($0.78) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.06. Sell-side analysts anticipate that Tourmaline Bio will post -2.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tourmaline Bio

A number of institutional investors and hedge funds have recently modified their holdings of the company. Blue Owl Capital Holdings LP increased its holdings in shares of Tourmaline Bio by 18.5% during the 2nd quarter. Blue Owl Capital Holdings LP now owns 1,715,401 shares of the company’s stock worth $22,060,000 after acquiring an additional 268,000 shares during the last quarter. Jennison Associates LLC boosted its position 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 worth $29,617,000 after acquiring an additional 24,282 shares in the last quarter. Geode Capital Management LLC increased its stake in Tourmaline Bio by 6.4% in the third 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 during the last quarter. State Street Corp increased its stake in Tourmaline Bio by 25.6% in the third quarter. State Street Corp now owns 411,980 shares of the company’s stock valued at $10,592,000 after acquiring an additional 83,949 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Tourmaline Bio during the third quarter worth $8,701,000. 91.89% of the stock is owned by 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.