Atara stock could get ‘very loud very fast,’ says Mizuho

Mizuho reiterated a Buy rating and $31 price target on Atara Biotherapeutics, noting that the company is slated to announce data for ATA188’s Phase 2 EMBOLD study in progressive MS patients in “early November.” The firm said that Wall Street is baking in a 0% PoS for this study reading out positive with the stock currently trading at cash, but if ATA188 either halts or reverses disability, it would be differentiated from the dozen-plus MS drugs currently on the market. Mizuho added that it believes the drug could potentially do $3.5B in peak sales and that the stock has the ability to get “very loud very fast” if history is any proxy.