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

Tourmaline Bio, Inc. (NASDAQ:TRML) has been given an average recommendation of “Buy” by the six ratings firms that are covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $54.00.

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

Tourmaline Bio Stock Performance

NASDAQ TRML opened at $16.06 on Friday. Tourmaline Bio has a 52 week low of $12.12 and a 52 week high of $48.31. The stock’s 50 day moving average price is $20.96 and its two-hundred day moving average price is $21.07. The stock has a market capitalization of $411.78 million, a price-to-earnings ratio of -5.70 and a beta of 2.36.

Tourmaline Bio (NASDAQ:TRML) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.78) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.06. On average, equities research analysts forecast that Tourmaline Bio will post -2.99 EPS for the current year.

Institutional Investors Weigh In On Tourmaline Bio

Several hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. bought a new position in shares of Tourmaline Bio in the third quarter valued at about $8,701,000. Blue Owl Capital Holdings LP raised its holdings in Tourmaline Bio by 18.5% in the 2nd quarter. Blue Owl Capital Holdings LP now owns 1,715,401 shares of the company’s stock valued at $22,060,000 after acquiring an additional 268,000 shares during the period. State Street Corp lifted its position in Tourmaline Bio by 25.6% during the third quarter. State Street Corp now owns 411,980 shares of the company’s stock worth $10,592,000 after acquiring an additional 83,949 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Tourmaline Bio by 184.9% during the second quarter. Renaissance Technologies LLC now owns 100,076 shares of the company’s stock worth $1,287,000 after acquiring an additional 64,950 shares during the period. Finally, Acuta Capital Partners LLC grew its position in shares of Tourmaline Bio by 23.2% in the third quarter. Acuta Capital Partners LLC now owns 332,095 shares of the company’s stock valued at $8,538,000 after purchasing an additional 62,481 shares during the last quarter. Institutional investors and hedge funds own 91.89% of the company’s stock.

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.