Canaccord Genuity Group Forecasts Strong Price Appreciation for Atara Biotherapeutics (NASDAQ:ATRA) Stock

Atara Biotherapeutics (NASDAQ:ATRA) had its target price raised by Canaccord Genuity Group from $13.00 to $21.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

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

Atara Biotherapeutics Stock Performance

ATRA opened at $14.26 on Wednesday. The firm has a market cap of $70.02 million, a P/E ratio of -0.55 and a beta of 0.50. Atara Biotherapeutics has a 52-week low of $6.48 and a 52-week high of $39.50. The business’s fifty day moving average is $8.89 and its 200-day moving average is $10.30.

Atara Biotherapeutics (NASDAQ:ATRA) last posted its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($2.93) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.77) by $0.84. The firm had revenue of $40.19 million for the quarter, compared to analyst estimates of $23.00 million. During the same quarter in the prior year, the business posted ($16.50) EPS. On average, research analysts predict that Atara Biotherapeutics will post -12.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC bought a new stake in shares of Atara Biotherapeutics in the 2nd quarter valued at about $79,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Atara Biotherapeutics in the second quarter valued at approximately $53,000. FMR LLC increased its position in Atara Biotherapeutics by 41.7% during the 3rd quarter. FMR LLC now owns 25,061 shares of the biotechnology company’s stock valued at $204,000 after purchasing an additional 7,381 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Atara Biotherapeutics by 8,916.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,958,150 shares of the biotechnology company’s stock worth $3,442,000 after purchasing an additional 4,903,159 shares during the last quarter. Finally, Redmile Group LLC lifted its position in shares of Atara Biotherapeutics by 1.7% in the 1st quarter. Redmile Group LLC now owns 9,263,309 shares of the biotechnology company’s stock worth $6,429,000 after purchasing an additional 156,863 shares during the period. 70.90% of the stock is owned by institutional investors.

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.