Leerink Partners analyst Thomas Smith has reiterated their bullish stance on TRML stock, giving a Buy rating on August 13.
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Thomas Smith has given his Buy rating due to a combination of factors surrounding Tourmaline Bio’s promising developments. The company has reported encouraging results from its Phase 2 TRANQUILITY trial, showcasing significant reductions in hs-CRP levels and a favorable safety profile for its lead asset, pacibekitug, in treating atherosclerotic cardiovascular disease (ASCVD). This positions pacibekitug competitively against other IL-6 agents, with the added advantage of less frequent dosing.
Furthermore, Tourmaline Bio is advancing its pipeline with plans to initiate a Phase 2 study for abdominal aortic aneurysm (AAA) and is preparing for a Phase 3 cardiovascular outcomes trial in ASCVD. These developments, along with the ongoing Phase 2b spiriTED study for thyroid eye disease, highlight the company’s strategic potential in addressing unmet needs in cardiovascular and inflammatory diseases. Smith sees these efforts as unlocking significant value and believes the stock is undervalued ahead of upcoming data releases.
In another report released on August 13, LifeSci Capital also maintained a Buy rating on the stock with a $58.00 price target.
TRML’s price has also changed dramatically for the past six months – from $13.090 to $22.220, which is a 69.75% increase.