Atara Biotherapeutics price target lowered to $5 from $10 at Stifel

Stifel lowered the firm’s price target on Atara Biotherapeutics (ATRA) to $5 from $10 and keeps a Hold rating on the shares after the FDA has issued clinical holds for ATA3219 and Ebvallo. The firm believes a critical factor for Atara’s continued operation is to secure additional financing to support ATA3219, “as this is the most likely driver of future value.” Today’s announcement adds uncertainty around Atara’s catalysts, the analyst tells investors in a research note.