Analysts Set Tourmaline Bio, Inc. (NASDAQ:TRML) Price Target at $45.65

Tourmaline Bio, Inc. (NASDAQ:TRML) has been assigned an average recommendation of “Hold” from the eleven analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $45.65.

TRML has been the topic of several recent research reports. Jefferies Financial Group cut shares of Tourmaline Bio from a “buy” rating to a “hold” rating and dropped their price objective for the company from $64.00 to $47.50 in a research note on Tuesday, September 9th. Truist Financial cut shares of Tourmaline Bio from a “buy” rating to a “hold” rating and dropped their price objective for the company from $63.00 to $48.00 in a research note on Wednesday, September 10th. Guggenheim reissued a “neutral” rating and issued a $48.00 price objective (down from $55.00) on shares of Tourmaline Bio in a research note on Wednesday, September 10th. Wedbush cut shares of Tourmaline Bio from an “outperform” rating to a “neutral” rating and set a $48.00 price objective on the stock. in a research note on Tuesday, September 9th. Finally, Piper Sandler cut shares of Tourmaline Bio from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $65.00 to $48.00 in a research note on Thursday, September 11th.

Tourmaline Bio Price Performance

Shares of Tourmaline Bio stock opened at $47.98 on Monday. Tourmaline Bio has a 52-week low of $11.56 and a 52-week high of $48.27. The company has a 50 day moving average of $41.73 and a 200 day moving average of $26.28. The company has a market capitalization of $1.23 billion, a P/E ratio of -13.99 and a beta of 2.27.

Tourmaline Bio (NASDAQ:TRML) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.90) earnings per share for the quarter, topping the consensus estimate of ($0.94) by $0.04. As a group, research analysts anticipate that Tourmaline Bio will post -3.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tourmaline Bio

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its holdings in Tourmaline Bio by 34.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,103 shares of the company’s stock valued at $34,000 after purchasing an additional 535 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Tourmaline Bio by 35.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,214 shares of the company’s stock valued at $51,000 after purchasing an additional 846 shares in the last quarter. Brooklyn Investment Group lifted its holdings in Tourmaline Bio by 148.9% in the 1st quarter. Brooklyn Investment Group now owns 3,923 shares of the company’s stock valued at $60,000 after purchasing an additional 2,347 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Tourmaline Bio by 114.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,146 shares of the company’s stock valued at $103,000 after purchasing an additional 1,144 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in Tourmaline Bio in the 1st quarter valued at about $158,000. 91.89% of the stock is currently owned by hedge funds and other institutional investors.

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.