Tourmaline Bio (NASDAQ:TRML) Price Target Raised to $43.00 at Wedbush

Tourmaline Bio (NASDAQ:TRML) had its target price increased by Wedbush from $42.00 to $43.00 in a research note released on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other analysts have also issued reports about the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 target price on shares of Tourmaline Bio in a research report on Wednesday, December 11th. HC Wainwright lifted their price objective on Tourmaline Bio from $49.00 to $50.00 and gave the company a “buy” rating in a report on Friday. Lifesci Capital assumed coverage on Tourmaline Bio in a report on Monday, February 24th. They issued an “outperform” rating and a $58.00 target price for the company. Guggenheim restated a “buy” rating on shares of Tourmaline Bio in a research report on Wednesday, December 11th. Finally, BMO Capital Markets initiated coverage on Tourmaline Bio in a research report on Friday, December 6th. They issued an “outperform” rating and a $50.00 price target on the stock. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $53.14.

Tourmaline Bio Trading Up 10.3 %

Shares of TRML stock opened at $18.80 on Friday. Tourmaline Bio has a 12 month low of $11.87 and a 12 month high of $45.55. The company has a market capitalization of $482.09 million, a P/E ratio of -6.67 and a beta of 2.35. The stock has a 50 day moving average of $15.71 and a two-hundred day moving average of $20.88.

Tourmaline Bio (NASDAQ:TRML) last issued its earnings results on Thursday, March 13th. The company reported ($0.86) EPS for the quarter, topping the consensus estimate of ($0.91) by $0.05. The firm had revenue of $0.04 million during the quarter. Sell-side analysts predict that Tourmaline Bio will post -3.02 earnings per share for the current fiscal year.

Institutional Trading of Tourmaline Bio

Several large investors have recently made changes to their positions in the business. Brooklyn Investment Group bought a new position in shares of Tourmaline Bio in the fourth quarter worth about $32,000. Tower Research Capital LLC TRC boosted its position in shares of 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 purchasing an additional 1,232 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Tourmaline Bio during the 4th quarter worth about $47,000. Virtus ETF Advisers LLC acquired a new position in Tourmaline Bio during the fourth quarter valued at approximately $64,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Tourmaline Bio in the 3rd quarter valued at $226,000. Institutional investors own 91.89% of the company’s stock.

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.