Jefferies, a global investment banking firm, has raised its price target for Tourmaline Bio (NASDAQ: TRML) stock from $41.00 to $72.00 while maintaining a Buy rating. The adjustment follows a series of investor meetings and growing evidence supporting the company's pharmaceutical developments. Tourmaline Bio's lead indication, a Phase 2/3 study on the effectiveness of its therapeutic candidate in treating Thyroid Eye Disease (TED), is expected to have data available in the first half of 2025 or 2026. The company has also shown positive results from its treatment for generalized myasthenia gravis (gMG). Jefferies has updated its model to reflect the upside potential for the biotechnology company, indicating confidence in its future performance.