Tourmaline Bio (NASDAQ:TRML) Earns Buy Rating from HC Wainwright

Tourmaline Bio (NASDAQ:TRML)‘s stock had its “buy” rating reiterated by HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $49.00 target price on the stock. HC Wainwright’s target price points to a potential upside of 117.58% from the stock’s current price.

TRML has been the subject of a number of other reports. Cantor Fitzgerald upgraded Tourmaline Bio to a “strong-buy” rating in a report on Tuesday, October 15th. BMO Capital Markets began coverage on Tourmaline Bio in a report on Friday, December 6th. They issued an “outperform” rating and a $50.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $54.00.

Tourmaline Bio Trading Down 7.6 %

Tourmaline Bio stock opened at $22.52 on Wednesday. The stock has a fifty day moving average price of $26.12 and a 200 day moving average price of $19.76. Tourmaline Bio has a 52 week low of $12.12 and a 52 week high of $48.31. The firm has a market capitalization of $577.48 million, a P/E ratio of -7.99 and a beta of 2.32.

Tourmaline Bio (NASDAQ:TRML) last released its earnings results on Thursday, November 7th. The company reported ($0.78) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.84) by $0.06. As a group, equities analysts predict that Tourmaline Bio will post -3.08 EPS for the current year.

Institutional Investors Weigh In On Tourmaline Bio

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quest Partners LLC boosted its holdings in Tourmaline Bio by 134.0% in the 2nd quarter. Quest Partners LLC now owns 3,822 shares of the company’s stock worth $49,000 after acquiring an additional 2,189 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in Tourmaline Bio by 63.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company’s stock valued at $127,000 after purchasing an additional 1,920 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Tourmaline Bio during the 3rd quarter worth $226,000. MetLife Investment Management LLC acquired a new position in Tourmaline Bio in the 3rd quarter worth $357,000. Finally, California State Teachers Retirement System acquired a new stake in shares of Tourmaline Bio during the first quarter valued at about $334,000. Hedge funds and other 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.