BioAtla price target lowered to $12 from $17 at JMP Securities

JMP Securities analyst Reni Benjamin lowered the firm’s price target on BioAtla to $12 from $17 and keeps an Outperform rating on the shares, citing a discounted EPS and revenue multiple analysis. BioAtla shares are attractively priced, especially on the heels of a greater than 50% decline in market cap earlier this year, and it has four distinct assets soon to be in the clinic, an abundance of data readouts over the next 6-12 months, and a cash position of $215.5M, the analyst tells investors in a research note.