Tourmaline Bio (NASDAQ:TRML) Price Target Raised to $49.00 at HC Wainwright

Tourmaline Bio (NASDAQ:TRML) had its price target upped by HC Wainwright from $48.00 to $49.00 in a research report report published on Monday, MarketBeat.com reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Tourmaline Bio’s Q4 2024 earnings at ($0.82) EPS, FY2024 earnings at ($2.85) EPS, Q1 2025 earnings at ($0.85) EPS, Q2 2025 earnings at ($0.86) EPS, Q3 2025 earnings at ($0.86) EPS and FY2025 earnings at ($3.43) EPS.

Separately, Cantor Fitzgerald raised shares of Tourmaline Bio to a “strong-buy” rating in a research note on Tuesday, October 15th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Tourmaline Bio has a consensus rating of “Buy” and an average target price of $65.00.

Tourmaline Bio Stock Up 2.4 %

Shares of Tourmaline Bio stock opened at $26.88 on Monday. The company has a market capitalization of $689.20 million, a price-to-earnings ratio of -9.53 and a beta of 2.36. The stock’s 50-day simple moving average is $25.06 and its 200-day simple moving average is $18.43. Tourmaline Bio has a 52 week low of $12.12 and a 52 week high of $48.31.

Tourmaline Bio (NASDAQ:TRML) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.78) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.06. On average, equities analysts expect that Tourmaline Bio will post -3.05 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new stake in Tourmaline Bio during the first quarter valued at $31,000. China Universal Asset Management Co. Ltd. raised its position in shares of 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 buying an additional 1,920 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Tourmaline Bio by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 63,571 shares of the company’s stock worth $1,634,000 after acquiring an additional 2,147 shares in the last quarter. Quest Partners LLC raised its position in Tourmaline Bio by 134.0% during the second quarter. Quest Partners LLC now owns 3,822 shares of the company’s stock valued at $49,000 after purchasing an additional 2,189 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Tourmaline Bio in the 3rd quarter worth approximately $226,000. 91.89% of the stock is currently owned by institutional investors.

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.