Tourmaline Bio, Inc. (NASDAQ:TRML) Receives $61.80 Consensus Target Price from Analysts

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have been assigned an average rating of “Buy” from the six brokerages that are currently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $61.80.

Separately, HC Wainwright restated a “buy” rating and issued a $48.00 price objective on shares of Tourmaline Bio in a report on Tuesday, May 14th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new position in shares of Tourmaline Bio during the 1st quarter valued at about $31,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Tourmaline Bio by 109.5% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 4,939 shares of the company’s stock valued at $113,000 after acquiring an additional 2,582 shares during the last quarter. Denali Advisors LLC acquired a new position in shares of Tourmaline Bio during the 1st quarter valued at about $128,000. Janus Henderson Group PLC acquired a new position in shares of Tourmaline Bio during the 1st quarter valued at about $266,000. Finally, California State Teachers Retirement System acquired a new position in Tourmaline Bio in the first quarter valued at about $334,000. Institutional investors and hedge funds own 91.89% of the company’s stock.

Tourmaline Bio Stock Performance

Shares of TRML stock opened at $15.94 on Friday. The stock’s fifty day moving average is $14.73 and its two-hundred day moving average is $23.45. The firm has a market capitalization of $408.86 million, a P/E ratio of -2.45 and a beta of 2.31. Tourmaline Bio has a fifty-two week low of $9.18 and a fifty-two week high of $48.31.

Tourmaline Bio (NASDAQ:TRML) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.13. On average, equities analysts forecast that Tourmaline Bio will post -2.94 earnings per share for the current year.

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.