Tourmaline Bio, Inc. (NASDAQ:TRML) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML) have been assigned an average rating of “Buy” from the six research firms that are covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have covered the stock in the last year is $61.80.

Several analysts recently commented on the stock. HC Wainwright reissued a “buy” rating and set a $48.00 target price 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 note on Wednesday, March 20th. Finally, Truist Financial reissued a “buy” rating and set a $74.00 target price on shares of Tourmaline Bio in a research note on Monday, March 25th.

Tourmaline Bio Trading Up 2.1 %

Shares of NASDAQ:TRML opened at $15.41 on Thursday. The stock has a 50 day moving average of $30.58. The firm has a market cap of $395.27 million, a price-to-earnings ratio of -1.36 and a beta of 2.33. Tourmaline Bio has a twelve month low of $9.18 and a twelve month high of $48.31.

Tourmaline Bio (NASDAQ:TRML) last issued its quarterly earnings results 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). Equities analysts forecast that Tourmaline Bio will post -2.9 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Mark Mcdade purchased 100,000 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were acquired at an average price of $32.50 per share, for a total transaction of $3,250,000.00. Following the completion of the acquisition, the director now directly owns 448,431 shares of the company’s stock, valued at $14,574,007.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tourmaline Bio

A number of large investors have recently made changes to their positions in TRML. Denali Advisors LLC acquired a new stake in shares of Tourmaline Bio during the first quarter valued at approximately $128,000. Jump Financial LLC acquired a new stake in shares of Tourmaline Bio during the fourth quarter valued at approximately $380,000. Affinity Asset Advisors LLC acquired a new position in Tourmaline Bio in the 4th quarter valued at approximately $1,782,000. BML Capital Management LLC acquired a new position in Tourmaline Bio in the 4th quarter valued at approximately $6,427,000. Finally, RTW Investments LP acquired a new position in Tourmaline Bio in the 4th quarter valued at approximately $10,442,000. Institutional investors and hedge funds 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.