Leerink Partners analyst Thomas Smith maintained a Buy rating on Tourmaline Bio (TRML – Research Report) on May 5 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, primarily focusing on the promising clinical developments of Tourmaline Bio’s lead asset, pacibekitug. The company has reaffirmed the timeline for the release of critical data from the Phase 2 TRANQUILITY trial, which is expected to be a significant catalyst for the stock. This trial aims to demonstrate pacibekitug’s effectiveness in reducing hsCRP levels in atherosclerotic cardiovascular disease, potentially matching or exceeding the performance of competing IL-6 agents with less frequent dosing.
Additionally, Tourmaline Bio’s strategic plans to explore pacibekitug’s potential in other indications, such as abdominal aortic aneurysm and thyroid eye disease, further support the positive outlook. The anticipated data releases and the company’s focus on balancing efficacy and safety are expected to enhance the asset’s value across multiple indications. Overall, the underappreciated potential of pacibekitug and the upcoming data catalysts contribute to the Buy rating, positioning Tourmaline Bio well to capitalize on the growing interest in IL-6 inhibition therapies.
Smith covers the Healthcare sector, focusing on stocks such as Viking Therapeutics, Immunovant, and Celldex. According to TipRanks, Smith has an average return of 35.2% and a 48.65% success rate on recommended stocks.
In another report released on May 5, H.C. Wainwright also reiterated a Buy rating on the stock with a $50.00 price target.