Atara Biotherapeutics (NASDAQ:ATRA) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Atara Biotherapeutics (NASDAQ:ATRA) had its target price upped by analysts at Canaccord Genuity Group from $13.00 to $21.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Canaccord Genuity Group’s price objective indicates a potential upside of 79.95% from the company’s current price.

A number of other analysts also recently issued reports on the stock. The Goldman Sachs Group dropped their price target on shares of Atara Biotherapeutics from $12.50 to $11.00 and set a “sell” rating on the stock in a report on Wednesday, July 17th. HC Wainwright reaffirmed a “neutral” rating on shares of Atara Biotherapeutics in a report on Wednesday, August 21st. Finally, Mizuho raised shares of Atara Biotherapeutics from a “neutral” rating to an “outperform” rating and dropped their price target for the company from $25.00 to $18.00 in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Atara Biotherapeutics presently has a consensus rating of “Hold” and an average price target of $16.67.

Atara Biotherapeutics Stock Performance

Shares of ATRA stock opened at $11.67 on Wednesday. Atara Biotherapeutics has a one year low of $4.96 and a one year high of $39.50. The company’s 50-day moving average is $8.79 and its 200 day moving average is $10.27. The company has a market capitalization of $57.30 million, a price-to-earnings ratio of -0.30 and a beta of 0.50.

Atara Biotherapeutics (NASDAQ:ATRA) last announced its quarterly earnings data on Monday, August 12th. The biotechnology company reported ($3.10) EPS for the quarter, missing the consensus estimate of ($1.56) by ($1.54). The company had revenue of $28.64 million for the quarter, compared to the consensus estimate of $48.30 million. As a group, research analysts predict that Atara Biotherapeutics will post -12.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atara Biotherapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Atara Biotherapeutics during the 2nd quarter worth approximately $53,000. Cubist Systematic Strategies LLC bought a new stake in Atara Biotherapeutics during the 2nd quarter worth approximately $79,000. Delap Wealth Advisory LLC bought a new stake in Atara Biotherapeutics during the 1st quarter worth approximately $29,000. BNP Paribas Financial Markets raised its position in shares of Atara Biotherapeutics by 29.3% during the first quarter. BNP Paribas Financial Markets now owns 383,082 shares of the biotechnology company’s stock valued at $266,000 after buying an additional 86,842 shares during the last quarter. Finally, Redmile Group LLC raised its position in shares of Atara Biotherapeutics by 1.7% during the first quarter. Redmile Group LLC now owns 9,263,309 shares of the biotechnology company’s stock valued at $6,429,000 after buying an additional 156,863 shares during the last quarter. Institutional investors own 70.90% of the company’s stock.

Atara Biotherapeutics Company Profile

Atara Biotherapeutics, Inc engages in the development of transformative therapies for patients with solid tumors, hematologic cancers, and autoimmune diseases in the United States and the United Kingdom. Its lead product includes Tab-cel (tabelecleucel), a T-cell immunotherapy program that is in Phase 3 clinical trials for the treatment of epstein-barr virus (EBV) driven post-transplant lymphoproliferative disease, as well as nasopharyngeal carcinoma.