Raymond James Remains a Buy on Adaptimmune Therapeutics

By Austin Angelo

Raymond James analyst Reni Benjamin maintained a Buy rating on Adaptimmune Therapeutics (NASDAQ: ADAP) today. The company’s shares closed yesterday at $12.36, close to its 52-week high of $13.41.

Benjamin wrote:

“We are maintaining our Outperform rating on Adaptimmune Therapeutics. At the 2018 American Association of Cancer Research (AACR) annual meeting, the company presented two posters featuring preclinical results surrounding the MAGE-A10 and MAGE-A4 TCR programs, respectively. Key takeaways include: 1) based on extensive screening and preclinical testing of a number of product candidates, the company selected two potent and specific TCRs targeting MAGE-A10 and MAGE-A4, respectively; 2) no major safety concerns were identified for the MAGE-A4 TCR, which gives us increased confidence in the first safety readout of the ongoing MAGE-A4 trial expected in 2Q18; and 3) MAGE-A4 expression was found in 24% of 472 evaluated non-small cell lung cancer (NSCLC) patient samples, with a higher frequency seen in squamous cell carcinoma (SCC) than in adenocarcinoma (51% vs 8%).”

According to TipRanks.com, Benjamin is a 3-star analyst with an average return of 3.8% and a 45.3% success rate. Benjamin covers the Healthcare sector, focusing on stocks such as Voyager Therapeutics Inc, Adverum Biotechnologies, and Cascadian Therapeutics.

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

Based on Adaptimmune Therapeutics’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $4.33 million and GAAP net loss of $27.64 million. In comparison, last year the company earned revenue of $2.88 million and 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. The company was founded by Bent K.