Canaccord Genuity analyst John Newman has maintained their bullish stance on ATRA stock, giving a Buy rating on March 9.
John Newman’s rating is based on Atara Biotherapeutics’ strategic focus on resubmitting the Biologics License Application (BLA) for Ebvallo in the United States. The company previously received a Complete Response Letter due to issues identified with a third-party manufacturer, which are expected to be resolved with a six-month review period upon resubmission. Importantly, the FDA has not requested additional data for the BLA, which suggests confidence in the existing data set.
Additionally, Atara is exploring strategic alternatives such as partnerships or mergers, indicating proactive efforts to enhance its market position. While other CAR-T programs are currently on hold to concentrate resources on the Ebvallo BLA resubmission, the expected resolution of manufacturing challenges and the company’s strategic initiatives underpin the Buy rating with a price target of $17.
ATRA’s price has also changed moderately for the past six months – from $8.590 to $6.160, which is a -28.29% drop .
Questions or Comments about the article? Write to editor@tipranks.com