Aduro BioTech Receives a Buy from Oppenheimer

By Carrie Williams

Oppenheimer analyst Mark Breidenbach maintained a Buy rating on Aduro BioTech (NASDAQ: ADRO) today and set a price target of $13. The company’s shares opened today at $7.25.

Breidenbach observed:

“On Sunday, at the 2018 American Association for Cancer Research (AACR) annual meeting, Aduro presented updated preclinical data for its first-in-class STING agonist ADU-S100. In rodent models that are unresponsive to anti-PD-1 monotherapy, ADU-S100 showed synergistic activity with PD-1 blockade and a clear abscopal effect, which we see as an essential quality for intratumoral immunotherapy. The presentation also featured immunological results consistent with the proposed MOA for ADU-S100, and we believe these data strongly support the use of ADU-S100 combined with checkpoint antibodies in the clinic. Aduro’s partner Novartis is currently evaluating ADU-S100 in combination with the anti-PD-1 antibody PDR001 in a Phase 1 trial; first-in-human results from both ADU-S100 monotherapy and PDR001 combination studies are expected in 2H18. Reiterate Outperform and $13 PT.”

According to, Breidenbach is a 4-star analyst with an average return of 17.9% and a 46.5% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Global Blood Therapeutics, and Sorrento Therapeutics.

Aduro BioTech has an analyst consensus of Strong Buy, with a price target consensus of $16.88.

The company has a one-year high of $14.05 and a one-year low of $5.83. Currently, Aduro BioTech has an average volume of 619.4K.

Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is neutral on the stock. Most recently, in January 2018, Gregory Schafer, the COO of ADRO bought 63,317 shares for a total of $49,233.

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Aduro BioTech, Inc. operates as a clinical-stage immunotherapy company. It focuses on the discovery, development and commercialization of therapies that transform the treatment of challenging diseases. The company’s technology platforms include LADD, STING Pathway Activator and B-select monoclonal antibodies.