Jefferies initiates coverage on Atara Biotherapeutics (NASDAQ: ATRA) with a Buy rating and a price target of $35.00.

Analyst Ryan Martins states, "ATRA has a proven management team with extensive experience in licensing and developing products. We believe ATRA's two lead clinical products, PINTA 745 and STM 434, offer significant commercial opportunities with combined potential worldwide adjusted peak sales of ~$790M. Other pipeline/licensed products provide additional upside."

For an analyst ratings summary and ratings history on Atara Biotherapeutics click here. For more ratings news on Atara Biotherapeutics click here.

Shares of Atara Biotherapeutics closed at $28.75 yesterday.