Mizuho analyst Salim Syed downgraded Atara Biotherapeutics to Neutral from Buy with a price target of $1, down from $31. The company released top-line data from its Phase 2 EMBOLD study of ATA188 in progressive multiple sclerosis and the trial failed, the analyst tells investors in a research note. There doesn’t even appear to be a trend really of any sort, “essentially what seems like the worst-case scenario,” says the firm.
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