Tourmaline Bio (NASDAQ:TRML) Earns Outperform Rating from Analysts at BMO Capital Markets

Investment analysts at BMO Capital Markets initiated coverage on shares of Tourmaline Bio (NASDAQ:TRML) in a research report issued on Friday,Benzinga reports. The firm set an “outperform” rating and a $50.00 price target on the stock. BMO Capital Markets’ price target points to a potential upside of 108.07% from the company’s current price.

A number of other brokerages have also weighed in on TRML. HC Wainwright raised their target price on Tourmaline Bio from $48.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Cantor Fitzgerald upgraded shares of Tourmaline Bio to a “strong-buy” rating in a research report on Tuesday, October 15th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $61.25.

Tourmaline Bio Stock Down 6.1 %

NASDAQ:TRML opened at $24.03 on Friday. The firm has a market cap of $616.13 million, a PE ratio of -8.52 and a beta of 2.32. Tourmaline Bio has a 12 month low of $12.12 and a 12 month high of $48.31. The company’s 50-day moving average price is $26.25 and its two-hundred day moving average price is $19.39.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. boosted its stake in 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Tourmaline Bio by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,571 shares of the company’s stock valued at $1,634,000 after purchasing an additional 2,147 shares during the period. Quest Partners LLC boosted its position 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 worth $49,000 after purchasing an additional 2,189 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Tourmaline Bio during the third quarter worth $226,000. Finally, MetLife Investment Management LLC bought a new stake in Tourmaline Bio in the third quarter valued at about $357,000. 91.89% of the stock is currently 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.