Tourmaline Bio (NASDAQ:TRML) Earns Outperform Rating from Analysts at Lifesci Capital

Lifesci Capital initiated coverage on shares of Tourmaline Bio (NASDAQ:TRML) in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage issued an outperform rating and a $58.00 price target on the stock. Lifesci Capital also issued estimates for Tourmaline Bio’s Q4 2024 earnings at ($0.88) EPS and FY2024 earnings at ($2.89) EPS.

A number of other research firms have also recently commented on TRML. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price target on shares of Tourmaline Bio in a research note on Wednesday, December 11th. HC Wainwright reaffirmed a “buy” rating and set a $49.00 price objective on shares of Tourmaline Bio in a research note on Wednesday, December 11th. BMO Capital Markets assumed coverage on Tourmaline Bio in a research report on Friday, December 6th. They issued an “outperform” rating and a $50.00 price objective for the company. Finally, Guggenheim restated a “buy” rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $54.67.

Tourmaline Bio Trading Up 3.1 %

Shares of TRML stock opened at $12.94 on Monday. Tourmaline Bio has a 12-month low of $11.87 and a 12-month high of $48.31. The business’s fifty day simple moving average is $17.21 and its 200-day simple moving average is $20.87. The company has a market cap of $331.82 million, a PE ratio of -4.59 and a beta of 2.32.

Institutional Investors Weigh In On Tourmaline Bio

Hedge funds have recently modified their holdings of the business. Brooklyn Investment Group purchased a new position in shares of Tourmaline Bio in the fourth quarter worth about $32,000. Tower Research Capital LLC TRC lifted its stake in Tourmaline Bio by 297.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company’s stock worth $33,000 after purchasing an additional 1,232 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Tourmaline Bio during the 4th quarter worth approximately $47,000. Virtus ETF Advisers LLC acquired a new position in shares of Tourmaline Bio during the 4th quarter worth approximately $64,000. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Tourmaline Bio by 63.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company’s stock valued at $127,000 after purchasing an additional 1,920 shares in the last quarter. 91.89% of the stock is currently owned by institutional investors and hedge funds.

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.