Analyst Yi Chen of H.C. Wainwright reiterated a Buy rating on Tourmaline Bio (TRML – Research Report), retaining the price target of $50.00.
Yi Chen has given his Buy rating due to a combination of factors related to Tourmaline Bio’s promising clinical trials and financial position. The company’s Phase 2 TRANQUILITY trial for pacibekitug in treating atherosclerotic cardiovascular disease (ASCVD) is progressing well, with topline results expected soon. The trial’s design suggests significant potential in reducing hs-CRP levels, a key marker of inflammation, which positions pacibekitug favorably against existing treatments like ziltivekimab.
Additionally, Tourmaline Bio’s ongoing Phase 2b spiriTED trial in thyroid eye disease (TED) is anticipated to yield results in the second half of 2025, with the potential to advance to Phase 3 based on its outcomes. Financially, the company is in a strong position with $275.3 million in cash and investments, providing a runway into the second half of 2027. These factors, combined with the potential for further clinical developments, underpin Yi Chen’s confidence in maintaining a Buy rating and a price target of $50.
In another report released on May 2, LifeSci Capital also maintained a Buy rating on the stock with a $58.00 price target.