Tourmaline Bio, Inc. (NASDAQ:TRML) Receives Average Rating of “Buy” from Brokerages

Tourmaline Bio, Inc. (NASDAQ:TRML) has been given a consensus recommendation of “Buy” by the six brokerages that are covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $61.80.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $48.00 price objective on shares of Tourmaline Bio in a research note on Tuesday, May 14th.

Hedge Funds Weigh In On Tourmaline Bio

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new stake in shares of Tourmaline Bio in the 1st quarter valued at approximately $31,000. China Universal Asset Management Co. Ltd. lifted its stake in Tourmaline Bio by 109.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 4,939 shares of the company’s stock worth $113,000 after purchasing an additional 2,582 shares during the last quarter. Denali Advisors LLC acquired a new position in shares of Tourmaline Bio in the 1st quarter valued at $128,000. Janus Henderson Group PLC acquired a new position in Tourmaline Bio in the first quarter valued at $266,000. Finally, Jump Financial LLC purchased a new position in shares of Tourmaline Bio during the fourth quarter worth about $380,000. 91.89% of the stock is currently owned by institutional investors and hedge funds.

Tourmaline Bio Stock Up 0.8 %

TRML opened at $16.88 on Friday. The firm’s fifty day simple moving average is $14.63 and its two-hundred day simple moving average is $23.60. Tourmaline Bio has a 52-week low of $9.18 and a 52-week high of $48.31.

Tourmaline Bio (NASDAQ:TRML) last released its earnings results on Monday, May 13th. The company reported ($0.55) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.13. Equities research analysts expect that Tourmaline Bio will post -2.94 EPS for the current 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.