Wedbush bullish on Tourmaline Bio, initiates with an Outperform

As previously reported, Wedbush analyst Laura Chico initiated coverage of Tourmaline Bio (TRML) with an Outperform rating and $42 price target The firm notes that the company’s pacibekitug targets IL-6 to reduce inflammation with the upcoming TRANQUILITY data readout offering an important gauge of how well the drug reduces inflammatory biomarker hsCRP. Prior CANTOS study showed an anti-inflammatory therapy can reduce the risk of a cardiovascular event, which makes Wedbush positive on the setup for Tourmaline Bio’s pacibekitug. The firm estimates earliest potential pacibekitug market entry in late 2028 and peak revenue reaching over $1B.