Analysts Set Tourmaline Bio, Inc. (NASDAQ:TRML) Target Price at $49.33

Tourmaline Bio, Inc. (NASDAQ:TRML) has received a consensus rating of “Buy” from the seven analysts that are covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have covered the stock in the last year is $49.33.

TRML has been the subject of a number of research analyst reports. Lifesci Capital initiated coverage on shares of Tourmaline Bio in a research report on Monday, February 24th. They issued an “outperform” rating and a $58.00 target price for the company. Wedbush raised their target price on Tourmaline Bio from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, March 14th. HC Wainwright reissued a “buy” rating and set a $50.00 price target on shares of Tourmaline Bio in a report on Monday, May 5th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $70.00 price objective on shares of Tourmaline Bio in a research report on Monday, May 5th.

Tourmaline Bio Trading Down 4.1%

NASDAQ:TRML opened at $15.09 on Monday. Tourmaline Bio has a 12 month low of $11.56 and a 12 month high of $29.79. The company has a market cap of $387.59 million, a PE ratio of -5.35 and a beta of 2.11. The company has a 50 day simple moving average of $15.49 and a two-hundred day simple moving average of $18.65.

Tourmaline Bio (NASDAQ:TRML) last posted its earnings results on Friday, May 2nd. The company reported ($0.89) EPS for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.02. Research analysts forecast that Tourmaline Bio will post -3.02 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in Tourmaline Bio in the 4th quarter worth $32,000. Tower Research Capital LLC TRC boosted its holdings 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 buying an additional 1,232 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Tourmaline Bio in the 4th quarter worth $47,000. Virtus ETF Advisers LLC bought a new position in shares of Tourmaline Bio during the 4th quarter valued at about $64,000. Finally, GAMMA Investing LLC grew its position in shares of Tourmaline Bio by 4,481.7% during the first quarter. GAMMA Investing LLC now owns 7,514 shares of the company’s stock valued at $114,000 after purchasing an additional 7,350 shares in the last quarter. Institutional investors 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.