Leerink Partners analyst Thomas Smith maintained a Buy rating on Tourmaline Bio (TRML – Research Report) on May 11 and set a price target of $49.00.
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Thomas Smith has given his Buy rating due to a combination of factors surrounding the upcoming results from Tourmaline Bio’s Phase 2 TRANQUILITY study. The study focuses on pacibekitug, an anti-IL-6 antibody, in treating atherosclerotic cardiovascular disease. Smith anticipates that the results will be a significant catalyst for the company, especially if pacibekitug demonstrates comparable efficacy to other anti-IL-6 antibodies, such as ziltivekimab and clazakizumab, with the added advantage of potentially less frequent dosing.
The expectation is that pacibekitug will achieve an 80% reduction in high-sensitivity C-reactive protein (hs-CRP) levels, with a similar percentage of patients reaching below the critical threshold of 2mg/L. This could lead to a 10-30% increase in Tourmaline Bio’s share price if the data shows a favorable balance between efficacy and safety. Furthermore, the TRANQUILITY study’s outcome is expected to provide valuable insights for the future development of pacibekitug in other indications, such as abdominal aortic aneurysm, which could enhance the strategic value of the drug.
In another report released yesterday, LifeSci Capital also maintained a Buy rating on the stock with a $58.00 price target.