Chardan has initiated coverage on Tourmaline Bio (TRML, Financial), giving it a 'Buy' rating with a price target set at $70. The analyst, Daniil Gataulin, highlights the promising prospects of the company's key product, an anti-IL6 antibody known as pacibekitug. This drug shows significant potential in treating both thyroid eye disease and atherosclerotic cardiovascular disease.
Besides its current applications, pacibekitug may also offer innovative treatment options for abdominal aortic aneurysm, presenting additional growth opportunities for Tourmaline Bio. The analyst's positive outlook is driven by the expected success of these potential therapies in expanding the company's market reach and boosting its financial performance.
