Atara Biotherapeutics (ATRA) PT Lowered to $17 at Canaccord Genuity

Canaccord Genuity analyst John Newman lowered the price target on Atara Biotherapeutics (NASDAQ: ATRA) to $17.00 (from $21.00) while maintaining a Buy rating.

The analyst commented: "We maintain our BUY rating but lower our price target to $17 from $21, due to delayed Ebvallo approval and the potential to halt CAR-T development 1Q25. We anticipate manufacturing for Ebvallo should be resolved, but note the complexity of cell therapy manufacturing, and FDA regulatory uncertainly. Cash, cash equivalents, and short-term investments totaled $43 million at the end of 2024, and Atara recently entered into a $15M equity line of credit from Redmile."

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