H.C. Wainwright analyst Yi Chen has reiterated their bullish stance on TRML stock, giving a Buy rating yesterday.
Yi Chen has given his Buy rating due to a combination of factors related to Tourmaline Bio’s ongoing clinical trials and financial outlook. The company is advancing its Phase 2 TRANQUILITY trial for pacibekitug in atherosclerotic cardiovascular disease (ASCVD), with promising pharmacokinetic and pharmacodynamic modeling results suggesting significant reductions in inflammation markers. This trial is expected to report topline data in the second quarter of 2025, which could provide a strong catalyst for the stock.
Additionally, Tourmaline Bio is conducting the Phase 2b spiriTED trial in thyroid eye disease (TED), with results anticipated in the second half of 2025. The trial’s design and endpoints are strategically aligned to demonstrate the efficacy of pacibekitug, potentially leading to a Phase 3 trial. These clinical developments, coupled with an increased market valuation estimate of $1.29 billion or $50 per share, underpin Yi Chen’s reiterated Buy rating and adjusted price target.
In another report released yesterday, LifeSci Capital also maintained a Buy rating on the stock with a $58.00 price target.