Tourmaline Bio initiated with bullish view at Jefferies, here’s why

Jefferies initiated coverage of Tourmaline Bio with a Buy rating and $41 price target. Tourmaline is a clinical stage biotech company developing IL-6 treatment for thyroid eye disease and beyond, the analyst tells investors in a research note. The firm says IL-6 has shown efficacy in retrospective and observational studies in TED, and that the company’s lead asset TOUR006 is a potential best-in-class antibody.