In a report released today, Yi Chen from H.C. Wainwright reiterated a Buy rating on Tourmaline Bio, with a price target of $50.00.
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Yi Chen’s rating is based on the promising clinical trial results and strategic advancements made by Tourmaline Bio. The company reported positive outcomes from its Phase 2 TRANQUILITY trial, which demonstrated significant reductions in high-sensitivity C-reactive protein (hs-CRP) levels among patients with atherosclerotic cardiovascular disease (ASCVD) and chronic kidney disease (CKD). These results are comparable to those of a competitor’s drug, indicating pacibekitug’s potential efficacy.
Furthermore, Tourmaline Bio is making strategic progress by planning a Phase 3 cardiovascular outcomes trial for pacibekitug, expected to commence in 2026. The company has also aligned with the FDA to initiate a Phase 2 proof-of-concept trial in abdominal aortic aneurysm (AAA) later in 2025. These developments, along with the robust safety profile of pacibekitug, underpin Yi Chen’s confidence in the company’s future prospects, leading to the reiteration of a Buy rating and a $50 price target.
According to TipRanks, Chen is an analyst with an average return of -7.7% and a 37.73% success rate. Chen covers the Healthcare sector, focusing on stocks such as Anixa Biosciences, Lipocine, and Clearside Biomedical.
In another report released on August 13, LifeSci Capital also maintained a Buy rating on the stock with a $58.00 price target.