Tourmaline Bio’s (TRML) “Overweight” Rating Reiterated at Cantor Fitzgerald

Tourmaline Bio (NASDAQ:TRML)‘s stock had its “overweight” rating reiterated by analysts at Cantor Fitzgerald in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $25.00 target price on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 1.26% from the company’s previous close.

Several other analysts also recently weighed in on TRML. HC Wainwright reissued a “buy” rating and issued a $49.00 target price on shares of Tourmaline Bio in a report on Wednesday. BMO Capital Markets assumed coverage on shares of Tourmaline Bio in a report on Friday, December 6th. They issued an “outperform” rating and a $50.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $54.00.

Tourmaline Bio Stock Down 1.2 %

NASDAQ TRML traded down $0.31 on Wednesday, hitting $24.69. 10,657 shares of the stock were exchanged, compared to its average volume of 291,804. The company has a market cap of $633.05 million, a PE ratio of -8.76 and a beta of 2.32. The company has a 50-day moving average price of $26.24 and a 200-day moving average price of $19.71. Tourmaline Bio has a fifty-two week low of $12.12 and a fifty-two week high of $48.31.

Tourmaline Bio (NASDAQ:TRML) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.78) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.06. As a group, equities research analysts predict that Tourmaline Bio will post -3.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Tourmaline Bio

Large investors have recently modified their holdings of the stock. Quest Partners LLC grew its position in 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 buying an additional 2,189 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Tourmaline Bio by 63.7% in the third 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 in the last quarter. The Manufacturers Life Insurance Company purchased a new position in Tourmaline Bio during the third quarter worth about $226,000. California State Teachers Retirement System acquired a new stake in Tourmaline Bio in the first quarter valued at about $334,000. Finally, MetLife Investment Management LLC purchased a new stake in Tourmaline Bio in the 3rd quarter valued at approximately $357,000. Hedge funds and other 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.