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

Tourmaline Bio (NASDAQ:TRML) had its price objective boosted by HC Wainwright from $48.00 to $49.00 in a research report sent to investors on Monday, MarketBeat reports. They currently have a buy rating on the stock.

Separately, Cantor Fitzgerald raised Tourmaline Bio to a “strong-buy” rating in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tourmaline Bio currently has a consensus rating of “Buy” and a consensus price target of $65.00.

Tourmaline Bio Stock Down 1.5 %

Tourmaline Bio stock opened at $28.32 on Monday. Tourmaline Bio has a 52 week low of $12.12 and a 52 week high of $48.31. The business has a 50-day simple moving average of $24.44 and a 200 day simple moving average of $18.25. The stock has a market cap of $726.15 million, a price-to-earnings ratio of -10.04 and a beta of 2.36.

Tourmaline Bio (NASDAQ:TRML) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.78) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.84) by $0.06. On average, research analysts anticipate that Tourmaline Bio will post -3.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Sandeep Chidambar Kulkarni bought 5,221 shares of the stock in a transaction dated Friday, August 16th. The stock was bought at an average price of $13.79 per share, with a total value of $71,997.59. Following the purchase, the chief executive officer now owns 5,221 shares in the company, valued at approximately $71,997.59. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 11.02% of the company’s stock.

Institutional Investors Weigh In On Tourmaline Bio

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets bought a new stake in shares of Tourmaline Bio in the 1st quarter valued at about $31,000. Quest Partners LLC lifted its stake in shares of Tourmaline Bio by 134.0% in the 2nd quarter. Quest Partners LLC now owns 3,822 shares of the company’s stock valued at $49,000 after acquiring an additional 2,189 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Tourmaline Bio by 63.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,932 shares of the company’s stock valued at $127,000 after acquiring an additional 1,920 shares during the last quarter. Janus Henderson Group PLC bought a new position in Tourmaline Bio during the 1st quarter valued at approximately $266,000. Finally, California State Teachers Retirement System bought a new position in Tourmaline Bio during the 1st quarter valued at approximately $334,000. Institutional investors own 91.89% of the company’s stock.

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.