Tourmaline Bio’s (TRML) “Buy” Rating Reaffirmed at Chardan Capital

by · The Cerbat Gem

Chardan Capital reaffirmed their buy rating on shares of Tourmaline Bio (NASDAQ:TRML – Free Report) in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a $70.00 target price on the stock.

A number of other analysts have also issued reports on TRML. Wedbush raised their target price on Tourmaline Bio from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, March 14th. HC Wainwright reaffirmed a “buy” rating and set a $50.00 target price on shares of Tourmaline Bio in a research report on Monday. Finally, Lifesci Capital assumed coverage on shares of Tourmaline Bio in a report on Monday, February 24th. They set an “outperform” rating and a $58.00 price objective on the stock. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tourmaline Bio presently has an average rating of “Buy” and a consensus price target of $49.33.

View Our Latest Stock Report on Tourmaline Bio

Tourmaline Bio Trading Up 5.8 %

Shares of Tourmaline Bio stock opened at $15.39 on Monday. The firm has a fifty day simple moving average of $15.36 and a 200-day simple moving average of $18.95. The stock has a market capitalization of $395.29 million, a price-to-earnings ratio of -5.46 and a beta of 2.11. Tourmaline Bio has a 1-year low of $11.56 and a 1-year high of $29.79.

Tourmaline Bio (NASDAQ:TRML – Get Free Report) last released its earnings results on Friday, May 2nd. The company reported ($0.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.02. As a group, research analysts predict that Tourmaline Bio will post -3.02 earnings per share for the current year.

Hedge Funds Weigh In On Tourmaline Bio

A number of hedge funds have recently made changes to their positions in TRML. Brooklyn Investment Group bought a new position in Tourmaline Bio during the fourth quarter worth about $32,000. Tower Research Capital LLC TRC grew its position in Tourmaline Bio by 297.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the company’s stock valued at $33,000 after acquiring an additional 1,232 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Tourmaline Bio during the fourth quarter worth $47,000. Virtus ETF Advisers LLC bought a new position in shares of Tourmaline Bio during the fourth quarter valued at $64,000. Finally, GAMMA Investing LLC boosted its stake in shares of Tourmaline Bio by 4,481.7% in the 1st quarter. GAMMA Investing LLC now owns 7,514 shares of the company’s stock valued at $114,000 after purchasing an additional 7,350 shares in the last quarter. Institutional investors and hedge funds own 91.89% of the company’s stock.

Tourmaline Bio Company Profile

(Get Free Report)

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.

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