Tourmaline Bio, Inc. (NASDAQ:TRML) Receives $61.80 Average PT from Brokerages

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have earned a consensus recommendation of “Buy” from the six analysts that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $61.80.

Several brokerages have recently weighed in on TRML. HC Wainwright reissued a “buy” rating and issued a $48.00 price target on shares of Tourmaline Bio in a research note on Wednesday, March 20th. Jefferies Financial Group increased their target price on shares of Tourmaline Bio from $41.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Truist Financial restated a “buy” rating and issued a $74.00 price target on shares of Tourmaline Bio in a research report on Monday, March 25th.

Tourmaline Bio Price Performance

TRML stock opened at $15.45 on Thursday. The company has a market capitalization of $396.29 million, a P/E ratio of -1.36 and a beta of 2.33. The company’s fifty day simple moving average is $31.91. Tourmaline Bio has a 52-week low of $9.18 and a 52-week high of $48.31.

Tourmaline Bio (NASDAQ:TRML) last posted its quarterly earnings data on Tuesday, March 19th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.06). As a group, sell-side analysts expect that Tourmaline Bio will post -2.9 earnings per share for the current year.

Insider Activity at Tourmaline Bio

In other Tourmaline Bio news, Director Mark Mcdade bought 100,000 shares of the stock in a transaction on Monday, January 29th. The stock was acquired at an average cost of $32.50 per share, for a total transaction of $3,250,000.00. Following the completion of the acquisition, the director now owns 448,431 shares in the company, valued at approximately $14,574,007.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 16.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tourmaline Bio

A number of large investors have recently bought and sold shares of TRML. BML Capital Management LLC acquired a new position in shares of Tourmaline Bio during the fourth quarter valued at about $6,427,000. Vivo Capital LLC bought a new stake in Tourmaline Bio in the 4th quarter valued at about $15,495,000. Jump Financial LLC acquired a new position in Tourmaline Bio during the 4th quarter worth approximately $380,000. Dimensional Fund Advisors LP bought a new position in Tourmaline Bio in the fourth quarter worth approximately $546,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Tourmaline Bio in the fourth quarter valued at approximately $236,000. 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.