Tourmaline Bio (NASDAQ:TRML) Rating Lowered to Market Perform at BMO Capital Markets

BMO Capital Markets downgraded shares of Tourmaline Bio (NASDAQ:TRML) from an outperform rating to a market perform rating in a research report sent to investors on Monday morning, MarketBeat Ratings reports. The brokerage currently has $48.00 price target on the stock, up from their prior price target of $35.00.

Several other equities analysts also recently issued reports on TRML. Guggenheim reiterated a “neutral” rating and set a $48.00 price objective (down from $55.00) on shares of Tourmaline Bio in a research report on Wednesday, September 10th. Wedbush downgraded Tourmaline Bio from an “outperform” rating to a “neutral” rating and set a $48.00 price objective for the company. in a research report on Tuesday, September 9th. Lifesci Capital downgraded Tourmaline Bio from an “outperform” rating to a “hold” rating and set a $48.00 price objective for the company. in a research report on Tuesday, September 9th. Jefferies Financial Group downgraded Tourmaline Bio from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $64.00 to $47.50 in a research report on Tuesday, September 9th. Finally, Piper Sandler downgraded Tourmaline Bio from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $65.00 to $48.00 in a research report on Thursday, September 11th. One research analyst has rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $45.65.

Tourmaline Bio Trading Down 0.0%

NASDAQ:TRML opened at $47.70 on Monday. The firm has a market capitalization of $1.23 billion, a PE ratio of -13.91 and a beta of 2.04. The stock has a 50 day moving average of $25.41 and a 200-day moving average of $19.30. Tourmaline Bio has a 52 week low of $11.56 and a 52 week high of $47.75.

Tourmaline Bio (NASDAQ:TRML) last posted its earnings results on Wednesday, August 13th. The company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($0.94) by $0.04. As a group, analysts predict that Tourmaline Bio will post -3.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TRML. BNP Paribas Financial Markets increased its holdings in shares of Tourmaline Bio by 34.1% in the second quarter. BNP Paribas Financial Markets now owns 2,103 shares of the company’s stock valued at $34,000 after buying an additional 535 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Tourmaline Bio by 35.7% in the second quarter. Tower Research Capital LLC TRC now owns 3,214 shares of the company’s stock valued at $51,000 after buying an additional 846 shares in the last quarter. Brooklyn Investment Group increased its holdings in shares of Tourmaline Bio by 148.9% in the first quarter. Brooklyn Investment Group now owns 3,923 shares of the company’s stock valued at $60,000 after buying an additional 2,347 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Tourmaline Bio by 4,481.7% in the first quarter. GAMMA Investing LLC now owns 7,514 shares of the company’s stock valued at $114,000 after buying an additional 7,350 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Tourmaline Bio in the first quarter valued at $158,000. 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.