Stifel analyst Benjamin Burnett initiated Atara Biotherapeutics with a Buy rating and a price target of $41, saying the company "can become a leader in the allogeneic, off-the-shelf T cell space" with an opportunity to address demand in multiple markets. The analyst cites Atara's "unique approach" in leveraging a proprietary HLA, or Human leukocyte antigen, matching algorithm to achieve allogeneic capabilities, and assigns a 75% probability of success to its tab-cel phase 3 study. Burnett adds that while his caution for the company's MS program is in line with consensus view, he believes the Street is "missing" that success in post-transplant lymphoproliferative disorder study would "validate" its HLA approach.