Published on 16 Jun 2023 on Simply Wall St. via Yahoo Finance
Time To Worry? Analysts Just Downgraded Their Atara Biotherapeutics, Inc. (NASDAQ:ATRA) Outlook
The latest analyst coverage could presage a bad day for Atara Biotherapeutics, Inc. (NASDAQ:ATRA), with the analysts making across-the-board cuts to their statutory estimates that might leave shareholders a little shell-shocked. Revenue estimates were cut sharply as analysts signalled a weaker outlook - perhaps a sign that investors should temper their expectations as well. Bidders are definitely seeing a different story, with the stock price of US$2.14 reflecting a 14% rise in the past week. Whether the downgrade will have a negative impact on demand for shares is yet to be seen.
Following the latest downgrade, the nine analysts covering Atara Biotherapeutics provided consensus estimates of US$27m revenue in 2023, which would reflect a substantial 53% decline on its sales over the past 12 months. Losses are expected to increase substantially, hitting US$2.51 per share. However, before this estimates update, the consensus had been expecting revenues of US$34m and US$2.42 per share in losses. So there's been quite a change-up of views after the recent consensus updates, with the analysts making a serious cut to their revenue forecasts while also expecting losses per share to increase.
View our latest analysis for Atara Biotherapeutics