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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