Tourmaline Bio (NASDAQ:TRML) Stock Price Expected to Rise, HC Wainwright Analyst Says

Tourmaline Bio (NASDAQ:TRML) had its price target upped by HC Wainwright from $49.00 to $50.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 193.43% from the stock’s previous close.

Several other brokerages also recently commented on TRML. Guggenheim reiterated a “buy” rating on shares of Tourmaline Bio in a report on Wednesday, December 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 target price on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Wedbush initiated coverage on Tourmaline Bio in a research report on Thursday, March 6th. They set an “outperform” rating and a $42.00 target price for the company. Lifesci Capital initiated coverage on shares of Tourmaline Bio in a research note on Monday, February 24th. They issued an “outperform” rating and a $58.00 price target on the stock. Finally, BMO Capital Markets began coverage on shares of Tourmaline Bio in a research report on Friday, December 6th. They issued an “outperform” rating and a $50.00 price objective for the company. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Tourmaline Bio currently has a consensus rating of “Buy” and an average price target of $53.00.

Tourmaline Bio Stock Up 4.7 %

TRML stock opened at $17.04 on Friday. Tourmaline Bio has a twelve month low of $11.87 and a twelve month high of $46.36. The stock has a market capitalization of $436.96 million, a price-to-earnings ratio of -6.04 and a beta of 2.35. The firm’s fifty day simple moving average is $15.83 and its two-hundred day simple moving average is $20.84.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TRML. Jennison Associates LLC grew its position in shares of Tourmaline Bio by 2.2% in the third quarter. Jennison Associates LLC now owns 1,151,973 shares of the company’s stock valued at $29,617,000 after purchasing an additional 24,282 shares during the period. Vanguard Group Inc. increased its position in Tourmaline Bio by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 1,106,125 shares of the company’s stock worth $22,432,000 after purchasing an additional 43,652 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Tourmaline Bio during the 4th quarter valued at approximately $12,168,000. Geode Capital Management LLC increased its stake in Tourmaline Bio by 6.4% during the third quarter. Geode Capital Management LLC now owns 482,078 shares of the company’s stock worth $12,396,000 after acquiring an additional 29,005 shares during the last quarter. Finally, Velan Capital Investment Management LP raised its holdings in Tourmaline Bio by 28.0% in the 4th quarter. Velan Capital Investment Management LP now owns 423,795 shares of the company’s stock valued at $8,595,000 after buying an additional 92,605 shares during the period. 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.