Canaccord lowered the firm’s price target on Atara Biotherapeutics (ATRA) to $17 from $21 and keeps a Buy rating on the shares. The firm noted Atara received a Complete Response Letter (CRL) for Ebvallo on inspection findings from a third-party manufacturer, which we think can be resolved, with a 6-month review on resubmission. The target was reduced due to delayed Ebvallo approval and the potential to halt CAR-T development 1Q25.
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Read More on ATRA:
- Atara Biotherapeutics trading resumes
- Atara Biotherapeutics remains eligible for $60M milestone payment
- Atara announces Ebvallo CRL did not find clinical efficacy deficiencies
- Atara Biotherapeutics expands review of strategic alternatives for CAR-T assets
- Atara Biotherapeutics trading halted, news pending
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