Raymond James analyst Reni Benjamin maintained a Buy rating on Adaptimmune Therapeutics (NASDAQ: ADAP) today and set a price target of $20. The company’s shares opened today at $13.74, close to its 52-week high of $14.20.
Benjamin said:
“We are maintaining our Outperform rating for ADAP. This morning, the company reported 1Q18 financial results and provided an update on its TCR programs. Key takeaways include: 1) all programs remain on track with the first efficacy data from the MAGE-A4 trials expected in 2H18; 2) importantly, the MAGE-A10 NSCLC study has advanced to the one billion cell cohort following a recommendation from the scientific review committee (SRC); 3) presentations featuring the NY-ESO and MAGE-A10 products are expected at the upcoming ASCO meeting; and 4) steady progress is also being made with manufacturing, the GSK transition of the NY-ESO asset, and development of next generation TCRs.”
According to TipRanks.com, Benjamin is a 3-star analyst with an average return of 2.1% and a 44.1% success rate. Benjamin covers the Healthcare sector, focusing on stocks such as Invivo Therapeutics Holdings, Bellicum Pharmaceuticals, and Asterias Biotherapeutics.
Adaptimmune Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $17.50.
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Based on Adaptimmune Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $27.64 million. In comparison, last year the company had a GAAP net loss of $21.99 million.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ADAP in relation to earlier this year.
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Adaptimmune Therapeutics Plc is a clinical-stage biopharmaceutical company, which engages in the development of novel cancer immunotherapy products. Its specific peptide enhanced affinity receptor platform enables the engineering of T-cells to target and destroy cancer, including solid tumors.
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