Atara Biotherapeutics initiated with a Buy at Rodman & Renshaw

Rodman & Renshaw analyst Tony Buter initiated coverage of Atara Biotherapeutics (ATRA) with a Buy rating and $25 price target Atara is developing T-cell immunotherapies with a focus on the development of therapies for patients with cancer and autoimmune diseases, the analyst tells investors in a research note. The firm believes Atara is unique for a number of reasons among allogeneic cell therapy developers given its use of intact T-cell receptors, the incorporation of the 1XX chimeric antigen receptors, and the use of T-cells with memory stem cell phenotype.