Roth Capital Partners launched coverage of Atara Biotherapeutics (NASDAQ:ATRA) with a “buy” rating and price target of $30. The stock closed at $23.30 on May 29.
Atara has successfully built a clinical pipeline of off-the-shelf allogeneic T-cell immunotherapies with late-stage clinical programs underway. The company also has broadened its pipeline to include a suite of next generation CAR-T therapies that “we believe hold significant value,” writes analyst Tony Butler.
Atara’s lead off-the-shelf T-cell therapy is Tab-cel (tabelecleucel), which is being developed for Epstein-Barr virus-associated post-transplant lymphoproliferative disorders (EBV-PTLD), and for the treatment of other EBV-associated tumors.
The EBV-PTLD program is in Phase 3 and a marketing authorization application is expected to be filed in the EU during 2020.
Mr. Butler said Atara also has two Phase 1 clinical programs in development for multiple sclerosis. In addition, the company has two early clinical stage programs for the treatment of refractory congenital cytomegalovirus infection and for hematological malignancies.
