Atreca (NASDAQ:BCEL) Upgraded to Buy at Zacks Investment Research

Atreca (NASDAQ:BCEL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Zacks.com reports. The firm presently has a $15.00 price target on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 15.83% from the company’s previous close.

According to Zacks, “Atreca is a biopharmaceutical company utilizing its differentiated platform to discover and develop novel antibody-based immunotherapeutics to treat a range of solid tumor types. While more traditional oncology drug discovery approaches attempt to generate antibodies against known targets, Atreca’s approach relies on the human immune system to direct it to unique antibody-target pairs from patients experiencing a clinically meaningful, active immune response against their tumors. These unique antibody-target pairs represent a potentially novel and previously unexplored landscape of immuno-oncology targets. “

Other analysts have also recently issued research reports about the company. Brookline Capital Management reiterated a “buy” rating on shares of Atreca in a research report on Tuesday, August 20th. Cowen reiterated a “buy” rating on shares of Atreca in a research report on Wednesday, August 14th. Finally, Roth Capital began coverage on Atreca in a research report on Wednesday, September 4th. They set a “buy” rating and a $30.00 price objective for the company. Seven analysts have rated the stock with a buy rating, Atreca currently has an average rating of “Buy” and an average target price of $22.53.

Shares of NASDAQ:BCEL traded down $0.39 during midday trading on Wednesday, reaching $12.95. 233,280 shares of the company’s stock traded hands, compared to its average volume of 102,562. Atreca has a one year low of $9.51 and a one year high of $23.65. The stock’s 50 day moving average price is $10.79.

Atreca (NASDAQ:BCEL) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.09. On average, sell-side analysts expect that Atreca will post -4.09 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Morgan Stanley bought a new position in shares of Atreca in the second quarter worth about $43,000. Barclays PLC raised its holdings in shares of Atreca by 261.6% in the third quarter. Barclays PLC now owns 5,063 shares of the company’s stock worth $62,000 after buying an additional 3,663 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Atreca during the 2nd quarter worth $106,000. California State Teachers Retirement System purchased a new position in Atreca during the 3rd quarter worth $124,000. Finally, Point72 Hong Kong Ltd purchased a new position in Atreca during the 2nd quarter worth $144,000. Institutional investors and hedge funds own 57.76% of the company’s stock.

About Atreca

Atreca, Inc, a biopharmaceutical company, discovers and develops antibody-based immunotherapeutics to treat a range of solid tumor types. Its lead product candidate is ATRC-101, a monoclonal antibody in preclinical development with a novel mechanism of action and target derived from an antibody identified using its discovery platform.

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Analyst Recommendations for Atreca (NASDAQ:BCEL)

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