Cowen & Co. Thinks Atara Biotherapeutics’ Stock is Going to Recover

Cowen & Co. analyst Phil Nadeau maintained a Buy rating on Atara Biotherapeutics (ATRA) today. The company’s shares opened today at $17.81, close to its 52-week low of $15.37.

According to TipRanks.com, Nadeau is a 4-star analyst with an average return of 5.5% and a 46.8% success rate. Nadeau covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical Inc., Phasebio Pharmaceuticals Inc, and Rhythm Pharmaceuticals Inc.

Atara Biotherapeutics has an analyst consensus of Strong Buy, with a price target consensus of $45.40, which is a 154.9% upside from current levels. In a report issued on July 1, Canaccord Genuity also maintained a Buy rating on the stock with a $70 price target.

See today’s analyst top recommended stocks >>

Based on Atara Biotherapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $66.26 million. In comparison, last year the company had a GAAP net loss of $50.88 million.

Based on the recent corporate insider activity of 74 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ATRA in relation to earlier this year.

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.