Analyst Roger Song of Jefferies maintained a Buy rating on Tourmaline Bio (TRML – Research Report), with a price target of $64.00.
Roger Song has given his Buy rating due to a combination of factors surrounding Tourmaline Bio’s promising developments. The company is advancing its differentiated aIL-6 inhibitor, pacibekitug, which is expected to have several upcoming catalysts. Notably, the Phase 2 ASCVD hsCRP readout in the second quarter of 2025 will be crucial in guiding dosing for the Phase 3 CVOT and could potentially lead to a partnership. Additionally, the company has a strong financial position with approximately $295 million in cash, providing a runway until the second half of 2027.
Furthermore, the management is confident in pacibekitug’s potential to reduce hs-CRP levels, which could offer MACE benefits in ASCVD as more evidence emerges. The clinical strategy includes leveraging insights from previous studies to refine trial designs and achieve a broader label. The TRANQUILITY Phase 2 study aims to inform dose selection for Phase 3, with a focus on reducing trial sizes due to the potency of hs-CRP reduction. These strategic moves and financial stability contribute to the positive outlook and Buy rating.
In another report released on April 14, Truist Financial also maintained a Buy rating on the stock with a $63.00 price target.
TRML’s price has also changed dramatically for the past six months – from $28.305 to $16.760, which is a -40.79% drop .