In a report released today, Rami Katkhuda from LifeSci Capital maintained a Buy rating on Tourmaline Bio (TRML – Research Report), with a price target of $58.00.
Rami Katkhuda has given his Buy rating due to a combination of factors, primarily focusing on Tourmaline Bio’s strong financial position and promising pipeline developments. The company ended its fiscal year 2024 with nearly $295 million in cash and investments, which is projected to sustain operations until the latter half of 2027. This financial stability provides a solid foundation for the company’s ongoing and future projects.
Additionally, Tourmaline Bio’s pipeline shows significant potential, particularly with the upcoming topline results from the Phase II TRANQUILITY study in ASCVD patients, expected in the second quarter of 2025. The potential for pacibekitug to offer a less frequent dosing regimen compared to existing treatments could improve patient adherence, especially in cardiovascular diseases. Moreover, the anticipated results from the Phase IIb spiriTED study in TED patients further bolster the company’s prospects. These developments, combined with the high probability of success in their trials, underpin Rami Katkhuda’s positive outlook on the stock.
In another report released on March 10, Piper Sandler also maintained a Buy rating on the stock with a $65.00 price target.