Canaccord Genuity Thinks Atara Biotherapeutics’ Stock is Going to Recover


Canaccord Genuity analyst John Newman maintained a Buy rating on Atara Biotherapeutics (ATRA) yesterday and set a price target of $70.00. The company’s shares closed last Thursday at $9.15, close to its 52-week low of $4.52.

According to TipRanks.com, Newman is a 5-star analyst with an average return of 12.7% and a 43.0% success rate. Newman covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Hutchison China MediTech, and Allogene Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Atara Biotherapeutics with a $40.67 average price target, a 363.7% upside from current levels. In a report issued on April 23, Citigroup also upgraded the stock to Buy with a $14.00 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 $78.5 million. In comparison, last year the company had a GAAP net loss of $80.01 million.

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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.

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