Tourmaline Bio (NASDAQ:TRML) Earns Outperform Rating from Analysts at Wedbush

Research analysts at Wedbush began coverage on shares of Tourmaline Bio (NASDAQ:TRML) in a report released on Thursday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $42.00 price target on the stock. Wedbush’s price target suggests a potential upside of 225.58% from the company’s current price.

Several other equities analysts have also issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and set a $25.00 price target on shares of Tourmaline Bio in a research note on Wednesday, December 11th. HC Wainwright restated a “buy” rating and set a $49.00 price target on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Guggenheim restated a “buy” rating on shares of Tourmaline Bio in a research note on Wednesday, December 11th. Lifesci Capital initiated coverage on Tourmaline Bio in a research note on Monday, February 24th. They set an “outperform” rating and a $58.00 price target on the stock. Finally, BMO Capital Markets started coverage on Tourmaline Bio in a research note on Friday, December 6th. They set an “outperform” rating and a $50.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $52.86.

Tourmaline Bio Stock Performance

Tourmaline Bio stock opened at $12.90 on Thursday. The business’s 50-day simple moving average is $16.38 and its 200-day simple moving average is $20.83. The firm has a market capitalization of $330.79 million, a PE ratio of -4.57 and a beta of 2.32. Tourmaline Bio has a 52 week low of $11.87 and a 52 week high of $48.31.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in shares of Tourmaline Bio by 6.4% in the 3rd 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 in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Tourmaline Bio by 72.8% in the 3rd quarter. Wellington Management Group LLP now owns 65,741 shares of the company’s stock worth $1,690,000 after acquiring an additional 27,707 shares in the last quarter. State Street Corp lifted its holdings in Tourmaline Bio by 25.6% during the 3rd quarter. State Street Corp now owns 411,980 shares of the company’s stock worth $10,592,000 after buying an additional 83,949 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Tourmaline Bio by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,571 shares of the company’s stock worth $1,634,000 after buying an additional 2,147 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Tourmaline Bio by 283.7% during the 3rd quarter. Barclays PLC now owns 31,833 shares of the company’s stock worth $819,000 after buying an additional 23,536 shares in the last quarter. 91.89% of the stock is owned by institutional investors and hedge funds.

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.