Tourmaline Bio, Inc. (NASDAQ:TRML) Receives $45.65 Consensus Target Price from Analysts

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have received a consensus recommendation of “Hold” from the eleven research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $45.65.

A number of analysts have issued reports on TRML shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tourmaline Bio in a research note on Saturday, September 27th. HC Wainwright lowered shares of Tourmaline Bio from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $50.00 to $48.00 in a report on Wednesday, September 10th. Guggenheim restated a “neutral” rating and set a $48.00 price objective (down from $55.00) on shares of Tourmaline Bio in a research report on Wednesday, September 10th. Truist Financial lowered shares of Tourmaline Bio from a “buy” rating to a “hold” rating and decreased their target price for the company from $63.00 to $48.00 in a report on Wednesday, September 10th. Finally, Lifesci Capital downgraded shares of Tourmaline Bio from an “outperform” rating to a “hold” rating and set a $48.00 price target for the company. in a report on Tuesday, September 9th.

Institutional Investors Weigh In On Tourmaline Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Octagon Capital Advisors LP purchased a new position in shares of Tourmaline Bio during the 1st quarter worth $13,765,000. QVT Financial LP lifted its position in Tourmaline Bio by 107.1% in the first quarter. QVT Financial LP now owns 1,473,369 shares of the company’s stock valued at $22,410,000 after buying an additional 762,094 shares during the last quarter. Nan Fung Trinity HK Ltd. purchased a new position in Tourmaline Bio during the second quarter worth about $3,631,000. Federated Hermes Inc. increased its position in shares of Tourmaline Bio by 13,036.0% during the first quarter. Federated Hermes Inc. now owns 121,245 shares of the company’s stock valued at $1,844,000 after acquiring an additional 120,322 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Tourmaline Bio by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 1,190,810 shares of the company’s stock valued at $18,112,000 after acquiring an additional 84,685 shares during the period. Hedge funds and other institutional investors own 91.89% of the company’s stock.

Tourmaline Bio Price Performance

Shares of Tourmaline Bio stock opened at $47.87 on Thursday. The stock has a market cap of $1.23 billion, a P/E ratio of -13.96 and a beta of 2.27. The stock’s 50 day simple moving average is $32.93 and its 200-day simple moving average is $22.27. Tourmaline Bio has a 1-year low of $11.56 and a 1-year high of $48.27.

Tourmaline Bio (NASDAQ:TRML) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($0.94) by $0.04. As a group, research analysts expect that Tourmaline Bio will post -3.02 EPS for the current fiscal year.

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.