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

Tourmaline Bio (NASDAQ:TRML) had its price objective boosted by HC Wainwright from $48.00 to $49.00 in a research report report published on Monday morning, MarketBeat.com reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Tourmaline Bio’s Q4 2024 earnings at ($0.82) EPS, FY2024 earnings at ($2.85) EPS, Q1 2025 earnings at ($0.85) EPS, Q2 2025 earnings at ($0.86) EPS, Q3 2025 earnings at ($0.86) EPS and FY2025 earnings at ($3.43) EPS.

Separately, Cantor Fitzgerald upgraded Tourmaline Bio to a “strong-buy” rating in a report on Tuesday, October 15th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $65.00.

Tourmaline Bio Price Performance

TRML stock opened at $26.88 on Monday. Tourmaline Bio has a 12 month low of $12.12 and a 12 month high of $48.31. The firm’s 50-day moving average is $25.06 and its 200 day moving average is $18.43. The company has a market capitalization of $689.20 million, a PE ratio of -9.53 and a beta of 2.36.

Tourmaline Bio (NASDAQ:TRML) last issued its earnings results on Thursday, November 7th. The company reported ($0.78) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.06. Sell-side analysts forecast that Tourmaline Bio will post -3.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Tourmaline Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRML. BNP Paribas Financial Markets purchased a new stake in shares of Tourmaline Bio during the first quarter valued at about $31,000. Quest Partners LLC lifted its position in Tourmaline Bio by 134.0% during the second 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. 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 in the last quarter. The Manufacturers Life Insurance Company purchased a new position in Tourmaline Bio in the third quarter worth $226,000. Finally, Janus Henderson Group PLC acquired a new position in shares of Tourmaline Bio during the first quarter worth $266,000. Hedge funds and other institutional investors own 91.89% of the company’s stock.

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.