In a report released today, Reni Benjamin from Raymond James maintained a Buy rating on Adaptimmune Therapeutics (NASDAQ: ADAP). The company’s shares opened today at $12.89.
Benjamin commented:
“We are maintaining our Outperform rating for Adaptimmune Therapeutics. Oncology (ASCO) meeting, the company had two presentations featuring updated efficacy and safety data from the Phase I/II study evaluating the NY-ESO TCR product in MRCLS and updated safety data from two MAGE-A10 studies, respectively, both of which, in our opinion, are incrementally positive. In addition, the company hosted a conference call to discuss these results as well as two major protocol changes designed to maximize the clinical outcomes of the MAGE-A10 and MAGE-A4 TCRs. Finally, the company just announced that the MAGE-A4 trial has passed the first safety hurdle, with the safety review committee recommending the trial proceed to the one billion cell dose cohort.”
According to TipRanks.com, Benjamin is a 4-star analyst with an average return of 6.3% and a 47.5% success rate. Benjamin covers the Healthcare sector, focusing on stocks such as Invivo Therapeutics Holdings, Bellicum Pharmaceuticals, and Voyager Therapeutics Inc.
Currently, the analyst consensus on Adaptimmune Therapeutics is Strong Buy and the average price target is $19.33, representing a 50.0% upside.
In a report released today, Leerink Partners also maintained a Buy rating on the stock with a $20 price target.
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Based on Adaptimmune Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $21.22 million. In comparison, last year the company had a GAAP net loss of $21.99 million.
Based on the recent corporate insider activity of 19 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.
