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.
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- 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
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