Analyst John Newman from Canaccord Genuity maintained a Buy rating on Atara Biotherapeutics (ATRA – Research Report) and keeping the price target at $13.00.
John Newman has given his Buy rating due to a combination of factors including promising developments in Atara Biotherapeutics’ pipeline and a robust financial position. Newman is optimistic about the upcoming clinical trials and data releases scheduled for Atara’s drug candidates, specifically ATA3219, which is slated to be tested in severe Systemic Lupus Erythematosus (SLE) without lymphodepletion, a method that could be particularly appealing to a demographic concerned with the side effects of chemotherapy. Additionally, the initiation of a Lupus Nephritis study and anticipated initial data in non-Hodgkin’s Lymphoma further support the positive outlook.
Newman’s confidence is also supported by Atara’s financial health, highlighted by a substantial cash reserve that is expected to last until 2027, assuming FDA approval and successful commercial transfer of other products in their portfolio. The strategic targeting of various doses in their trials exhibits a tailored approach to therapy, which could lead to more effective treatment options. The set price target of $13 reflects Newman’s anticipation of these positive data outcomes and the potential for Atara Biotherapeutics to make significant progress in its clinical programs within the next few years.
Newman covers the Healthcare sector, focusing on stocks such as 2seventy bio, Atara Biotherapeutics, and Palatin Technologies. According to TipRanks, Newman has an average return of 8.6% and a 39.44% success rate on recommended stocks.
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Atara Biotherapeutics (ATRA) Company Description:
Atara Biotherapeutics, Inc. operates as a clinical stage company, which engages in the development of novel therapeutics for patients with cancer, autoimmune, and viral diseases. Its pipeline includes Tab-cel, ATA188, ATA2271/ATA3271, and ATA3219. The company was founded by Isaac E. Ciechanover on August 22, 2012 and is headquartered in South San Francisco, CA.
