Canaccord Genuity Remains a Buy on Atara Biotherapeutics

By Austin Angelo

In a report released today, John Newman from Canaccord Genuity maintained a Buy rating on Atara Biotherapeutics (NASDAQ: ATRA), with a price target of $70. The company’s shares opened today at $41.25.

Newman observed:

“We are updating details of our model and valuation table for ATRA, but our price target remains at $70 and our revenue estimates remain unchanged.”

According to, Newman is a 5-star analyst with an average return of 17.5% and a 45.2% success rate. Newman covers the Healthcare sector, focusing on stocks such as Hutchison China MediTech Ltd, Synergy Pharmaceuticals Inc, and Rocket Pharmaceuticals Inc.

Currently, the analyst consensus on Atara Biotherapeutics is Moderate Buy and the average price target is $45, representing a 9.1% upside.

In a report issued on February 27, Cowen & Co. also maintained a Buy rating on the stock.

The company has a one-year high of $49.90 and a one-year low of $11.80. Currently, Atara Biotherapeutics has an average volume of 1.05M.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Atara Biotherapeutics, Inc. operates as a clinical stage company which focuses on developing novel therapeutics for serious unmet medical needs, with an initial focus on muscle wasting conditions and oncology. Its product candidates are biologics targeting myostatin and activin, members of the transforming growth factor-beta, protein superfamily, which play roles in the growth and maintenance of muscle and many other body tissues. The company was founded by Isaac E. Ciechanover on August 22, 2012 and is headquartered in South San Francisco, CA.