Mara Goldstein, an analyst from Mizuho Securities, maintained the Buy rating on Adaptimmune Therapeutics (ADAP – Research Report). The associated price target is $9.00.
Mara Goldstein’s Buy rating for Adaptimmune Therapeutics (ADAP) is driven by multiple reasons. Primarily, the promising results of ADAP’s Phase I SURPASS ESMO update, which evaluated ADP-A2M4CD8 in various solid tumors, held an impressive monotherapy activity with an overall response rate (ORR) of 35.6% and a median duration of response (mDOR) of approximately 5.2 months. Additionally, a 25% ORR was displayed when used in combination with nivolumab. The safety profile of these trials remained consistent with prior analyses, further reinforcing their potential success.
Furthermore, Goldstein anticipates additional updates from the ovarian (SURPASS-3), urothelial, and head & neck (SURPASS) cohorts in 2024. These updates are seen as an opportunity to increase the current valuation of the company. This expected data update in 2024 could provide a substantial boost to ADAP’s standing in the market, making it a lucrative investment option in Goldstein’s view. Therefore, the combination of positive trial results and future growth prospects led to Goldstein’s Buy rating for ADAP.
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Adaptimmune Therapeutics (ADAP) Company Description:
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.
