Tourmaline Bio initiated with an Outperform at BMO Capital

BMO Capital analyst Etzer Darout initiated coverage of Tourmaline Bio (TRML) with an Outperform rating and $50 price target The company’s initial product candidate, TOUR006, is a “potentially best-in-class” long-acting antibody, according to the analyst, who believes important de-risking data for TOUR006 in TED and atherosclerosis in 2025 “represent meaningful upside” from current levels.