John Newman, an analyst from Canaccord Genuity, maintained the Buy rating on Atara Biotherapeutics. The associated price target remains the same with $17.00.
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John Newman has given his Buy rating due to a combination of factors that highlight Atara Biotherapeutics’ potential for growth and strategic advancements. The recent resubmission of the tab-cel BLA for EBV+ PTLD to the FDA positions Atara for a significant milestone payment of $40 million upon approval, which is anticipated in early 2026. This resubmission suggests that previous manufacturing compliance issues have been addressed, increasing the likelihood of approval.
Additionally, Atara’s strategic initiatives, including the transfer of tab-cel development and manufacturing responsibilities to Pierre Fabre, are expected to reduce cash burn and improve financial stability. The company’s cash reserves are projected to sustain operations until the first quarter of 2026, although further funding might be necessary depending on the approval timeline. These factors collectively support the Buy rating with a price target of $17.
According to TipRanks, Newman is an analyst with an average return of -4.5% and a 36.49% success rate. Newman covers the Healthcare sector, focusing on stocks such as BioNTech SE, Delcath Systems, and Regeneron.