William Blair Keeps a Buy Rating on Atara Biotherapeutics (ATRA)

By Jason Carr

William Blair analyst Matt Phipps reiterated a Buy rating on Atara Biotherapeutics (ATRAResearch Report) on April 1. The company’s shares closed yesterday at $39.98.

Phipps noted:

“We view the results as very promising given the high efficacy and very favorable safety profile, with no evidence of on-target, off-tumor toxicity of the CAR-T therapy . Given the strong expression of mesothelin across several tumor types, including mesothelioma (90%-plus), lung adenocarcinoma (60%-plus), triple negative breast cancer (TNBC, 35%), and pancreatic cancer (80%), the opportunity for a mesothelin- CAR-T therapy with a strong safety profile is significant.”

According to TipRanks.com, Phipps is ranked #2217 out of 5231 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Atara Biotherapeutics with a $66 average price target, implying a 65.1% upside from current levels. In a report issued on March 22, Canaccord Genuity also reiterated a Buy rating on the stock with a $70 price target.

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Based on Atara Biotherapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $80.01 million. In comparison, last year the company had a GAAP net loss of $41.44 million.

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock. Last month, Joel Marcus, a Director at ATRA sold 62,590 shares for a total of $2,257,621.

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.