What Made JonesTrading Upgrade Adaptimmune Therapeutics’ Stock?
JonesTrading analyst Soumit Roy upgraded Adaptimmune Therapeutics (ADAP) to Buy today and set a price target of $15.00. The company’s shares closed last Friday at $10.18.
According to TipRanks.com, Roy is a 5-star analyst with an average return of 32.6% and a 59.3% success rate. Roy covers the Healthcare sector, focusing on stocks such as Deciphera Pharmaceuticals, Monopar Therapeutics Inc, and Aeglea Biotherapeutics.
Currently, the analyst consensus on Adaptimmune Therapeutics is a Moderate Buy with an average price target of $7.67.
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Based on Adaptimmune Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $761K and GAAP net loss of $28.17 million. In comparison, last year the company had a GAAP net loss of $27.41 million.
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Adaptimmune Therapeutics Plc 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. The company was founded by Bent K. Jakobsen, James Julian Noble, and Helena Katrina Tayton-Martin in 2008 and is headquartered in Abingdon, the United Kingdom.