Jefferies downgraded Tourmaline Bio (TRML) to Hold from Buy with a price target of $47.50, down from $64, after Novartis (NVS) announced a deal to acquire the company for $48 per share. The deal “makes sense” with good strategic fit, appropriate timing, reasonable valuation and a high likelihood to complete, the analyst tells investors.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TRML:
- Nebius enters AI pact with Microsoft, Teck to combine with Anglo: Morning Buzz
- Tourmaline Bio downgraded to Market Perform from Outperform at LifeSci Capital
- Hold Rating Maintained Amidst Novartis’s Strategic Acquisition of Tourmaline Bio: Balancing Opportunities and Risks
- Tourmaline Bio downgraded to Neutral from Buy at Guggenheim
- Tourmaline Bio downgraded to Neutral from Outperform at Wedbush