Trillium Therapeutics (NASDAQ:TRIL) (TSE:TR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday. They presently have a $7.00 price target on the biotechnology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 26.13% from the stock’s current price.

According to Zacks, “Trillium Therapeutics Inc. is a clinical stage immuno-oncology company developing innovative therapies for the treatment of cancer. The company’s lead program, SIRPaFc (TTI-621), is a fusion protein that consists of the CD47-binding domain of human SIRPa linked to the Fc region of a human immunoglobulin (IgG1). It is designed to act as a soluble decoy receptor, preventing CD47 from delivering its inhibitory (do not eat) signal. Neutralization of the inhibitory CD47 signal enables the activation of macrophage anti-tumor effects by pro-phagocytic (eat) signals. A Phase 1 clinical trial (NCT02663518) evaluating SIRPaFc is ongoing. Trillium also has a proprietary medicinal chemistry platform, using unique fluorine chemistry, which permits the creation of new chemical entities from validated drugs and drug candidates with improved pharmacological properties. “

Other equities analysts have also issued research reports about the stock. HC Wainwright set a $10.00 price target on shares of Trillium Therapeutics and gave the company a “buy” rating in a research report on Monday, March 12th. ValuEngine upgraded shares of Trillium Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Finally, Leerink Swann started coverage on shares of Trillium Therapeutics in a research report on Friday, April 13th. They set a “market perform” rating and a $7.00 price target for the company. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $8.00.

Shares of Trillium Therapeutics traded down $0.35, hitting $5.55, during trading on Thursday, according to MarketBeat Ratings. The stock had a trading volume of 7,800 shares, compared to its average volume of 136,169. The firm has a market cap of $84.48 million, a price-to-earnings ratio of -1.56 and a beta of 1.82. Trillium Therapeutics has a 12 month low of $4.15 and a 12 month high of $13.30.

Trillium Therapeutics (NASDAQ:TRIL) (TSE:TR) last posted its quarterly earnings results on Friday, May 11th. The biotechnology company reported ($0.51) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.64) by $0.13. equities analysts forecast that Trillium Therapeutics will post -2.3 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of TRIL. Wells Fargo & Company MN boosted its position in Trillium Therapeutics by 57.7% during the fourth quarter. Wells Fargo & Company MN now owns 26,100 shares of the biotechnology company’s stock worth $189,000 after purchasing an additional 9,550 shares during the period. Virtu Financial LLC purchased a new stake in shares of Trillium Therapeutics in the fourth quarter worth about $144,000. Citadel Advisors LLC purchased a new stake in shares of Trillium Therapeutics in the fourth quarter worth about $180,000. Renaissance Technologies LLC purchased a new stake in shares of Trillium Therapeutics in the fourth quarter worth about $1,138,000. Finally, Deutsche Bank AG lifted its holdings in shares of Trillium Therapeutics by 1,860.0% in the fourth quarter. Deutsche Bank AG now owns 115,288 shares of the biotechnology company’s stock worth $835,000 after buying an additional 109,406 shares in the last quarter. Hedge funds and other institutional investors own 57.11% of the company’s stock.

Trillium Therapeutics Company Profile

Trillium Therapeutics Inc, a clinical-stage immuno-oncology company, develops therapies for the treatment of cancer. The company's lead program is TTI-621, a SIRPaFc fusion protein that acts a soluble decoy receptor preventing CD47 from delivering its inhibitory signal, which is in Phase I clinical trial for advanced hematologic malignancies, and solid tumors and mycosis fungoides.

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