Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page. BMO Capital analyst Kostas Biliouris downgraded Tourmaline Bio, Inc.

Novartis is set to acquire Tourmaline Bio for $1.4B, adding late-stage anti-IL-6 candidate pacibekitug to its cardiovascular pipeline.

U.S. stocks were lower, with the Nasdaq Composite falling around 0.1% on Tuesday. Shares of Tourmaline Bio, Inc. TRML rose sharply during Tuesday's session after the company announced it entered into an agreement to be acquired by Novartis.

Novartis to buy Tourmaline Bio for $1.4 billion, paying $48 per share in cash at closing. Pacibekitug cut hs-CRP levels significantly by Day 90 in the Phase 2 trial vs placebo. Get the strategy to turn September's volatility into 10x trades → Tourmaline Bio, Inc.