HC Wainwright Forecasts Strong Price Appreciation for Tourmaline Bio (NASDAQ:TRML) Stock

Tourmaline Bio (NASDAQ:TRMLFree Report) had its price objective raised by HC Wainwright from $49.00 to $50.00 in a research note published on Friday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other research firms have also commented on TRML. Lifesci Capital assumed coverage on Tourmaline Bio in a research note on Monday, February 24th. They issued an “outperform” rating and a $58.00 price objective on the stock. BMO Capital Markets initiated coverage on shares of Tourmaline Bio in a research report on Friday, December 6th. They issued an “outperform” rating and a $50.00 price target on the stock. Guggenheim reiterated a “buy” rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Wedbush started coverage on shares of Tourmaline Bio in a research report on Thursday, March 6th. They set an “outperform” rating and a $42.00 price target on the stock. Finally, 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. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $53.14.

View Our Latest Analysis on Tourmaline Bio

Tourmaline Bio Stock Performance

Shares of NASDAQ TRML opened at $18.80 on Friday. The firm has a 50 day moving average price of $15.71 and a two-hundred day moving average price of $20.88. The stock has a market cap of $482.09 million, a P/E ratio of -6.67 and a beta of 2.35. Tourmaline Bio has a 52-week low of $11.87 and a 52-week high of $45.55.

Tourmaline Bio (NASDAQ:TRMLGet Free Report) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.86) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.05. The company had revenue of $0.04 million during the quarter. Analysts predict that Tourmaline Bio will post -3.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tourmaline Bio

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of Tourmaline Bio by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 482,078 shares of the company’s stock valued at $12,396,000 after buying an additional 29,005 shares during the period. Wellington Management Group LLP boosted its holdings in Tourmaline Bio by 72.8% in the third quarter. Wellington Management Group LLP now owns 65,741 shares of the company’s stock worth $1,690,000 after acquiring an additional 27,707 shares in the last quarter. State Street Corp grew 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 period. Charles Schwab Investment Management Inc. increased its holdings in shares of Tourmaline Bio by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 63,571 shares of the company’s stock valued at $1,634,000 after acquiring an additional 2,147 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Tourmaline Bio by 283.7% during the third quarter. Barclays PLC now owns 31,833 shares of the company’s stock worth $819,000 after purchasing an additional 23,536 shares during the period. 91.89% of the stock is owned by institutional investors.

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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