Adaptimmune Therapeutics Receives a Buy from Cowen & Co.

By Austin Angelo

In a report released today, Eric Schmidt from Cowen & Co. reiterated a Buy rating on Adaptimmune Therapeutics (NASDAQ: ADAP). The company’s shares opened today at $5.41.

Schmidt wrote:

“Adaptimmune reported a Q3 net loss of $18MM and a September 30 cash balance.”

According to TipRanks.com, Schmidt is a top 100 analyst with an average return of 21.4% and a 55.8% success rate. Schmidt covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals Inc, Merrimack Pharmaceuticals, and Threshold Pharmaceuticals.

Adaptimmune Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $15.

The company has a one year high of $12.85 and a one year low of $3.76. Currently, Adaptimmune Therapeutics has an average volume of 157K.

Based on the recent corporate insider activity of 25 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.

Adaptimmune Therapeutics Plc is a clinical stage biopharmaceutical company, which focuses on novel cancer immunotherapy products based on T-cell receptor platform. Its TCR platform targets NY-ESO-1 cancer antigen. The company was founded in December 2014 and is headquartered in Oxford, the United Kingdom.