Atara Biotherapeutics upgraded to Buy from Hold at Canaccord

Canaccord upgraded Atara Biotherapeutics (ATRA) to Buy from Hold with a price target of $13, up from $6. The type-A meeting with the FDA provides a potential approval pathway for tab-cel, the analyst tells investors in a research note. Pierre Fabre will submit updated Phase 3 ALLELE data, possibly opening the door for approval and significant royalty and milestone payments for Atara, the analyst tells investors in a research note.