Zacks Investment Research Upgrades Atara Biotherapeutics (NASDAQ:ATRA) to Hold

Atara Biotherapeutics (NASDAQ:ATRA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Atara Biotherapeutics, Inc. is a clinical-stage biopharmaceutical company. It is focused on developing therapeutics for serious unmet medical needs, with an initial focus on muscle wasting conditions and oncology. The company’s lead programs are focused on myostatin and activin, members of the TGF-beta family of proteins that have demonstrated the potential to have therapeutic benefit in a number of clinical indications. Its lead product candidate is PINTA 745, which is in a Phase II clinical trial for the treatment of protein-energy wasting in end-stage renal disease patients. Atara Biotherapeutics, Inc. is headquartered in Brisbane, California. “

A number of other brokerages have also recently issued reports on ATRA. Canaccord Genuity reissued a “speculative buy” rating and issued a GBX 70 ($0.91) target price on shares of Bacanora Lithium in a research report on Monday, July 1st. ValuEngine raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. William Blair reissued an “outperform” rating on shares of NuCana in a research report on Thursday, May 16th. Wedbush boosted their target price on shares of Workday from $209.00 to $211.00 and gave the company a “neutral” rating in a research report on Wednesday, May 29th. Finally, Stifel Nicolaus set a $154.00 price target on argenx and gave the company a “buy” rating in a research note on Wednesday, May 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $41.86.

Shares of Atara Biotherapeutics stock opened at $15.01 on Tuesday. The company has a 50-day simple moving average of $20.67. Atara Biotherapeutics has a 52-week low of $14.92 and a 52-week high of $43.95. The company has a debt-to-equity ratio of 0.05, a current ratio of 9.96 and a quick ratio of 9.96.

Atara Biotherapeutics (NASDAQ:ATRA) last announced its earnings results on Thursday, May 9th. The biotechnology company reported ($1.44) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.48) by $0.04. As a group, analysts anticipate that Atara Biotherapeutics will post -5.54 earnings per share for the current year.

In related news, insider Joe Newell sold 1,500 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $35.00, for a total value of $52,500.00. Following the completion of the transaction, the insider now owns 62,998 shares of the company’s stock, valued at $2,204,930. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Eric Dobmeier purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was bought at an average cost of $19.50 per share, with a total value of $39,000.00. Following the purchase, the director now owns 16,000 shares of the company’s stock, valued at $312,000. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 22,950 shares of company stock valued at $641,147. 7.00% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of ATRA. Manchester Capital Management LLC acquired a new position in Atara Biotherapeutics during the first quarter worth about $56,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Atara Biotherapeutics by 12.7% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,554 shares of the biotechnology company’s stock worth $181,000 after acquiring an additional 512 shares in the last quarter. Amalgamated Bank bought a new stake in shares of Atara Biotherapeutics during the fourth quarter worth about $212,000. Highland Private Wealth Management bought a new stake in shares of Atara Biotherapeutics during the first quarter worth about $219,000. Finally, Marshall Wace LLP bought a new stake in shares of Atara Biotherapeutics during the first quarter worth about $284,000.

Atara Biotherapeutics Company Profile

Atara Biotherapeutics, Inc, an off-the-shelf T-cell immunotherapy company, develops treatments for patients with cancer, autoimmune, and viral diseases in the United States. It is developing tabelecleucel, a T-cell immunotherapy that is Phase III clinical trials for the treatment of rituximab-refractory epstein-barr virus (EBV) associated post-transplant lymphoproliferative disorder, as well as other EBV associated hematologic and solid tumors, including nasopharyngeal carcinoma.

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