Analyst Mara Goldstein of Mizuho Securities maintained a Buy rating on Adaptimmune Therapeutics (ADAP – Research Report), with a price target of $9.00.
Mara Goldstein based her Buy rating for Adaptimmune Therapeutics on several factors.
The updated ADP-A2M4CD8 data presented at ESMO 2023 demonstrated an impressive 50% overall response rate (ORR) as monotherapy in selected indications for expansion. Additionally, the median duration of response (mDOR) saw an improvement, increasing to 21 weeks from the previous 12 weeks. Moreover, initial combination data with nivolumab showcased promising results, with a 20% ORR.
Furthermore, Goldstein noted a higher ORR of 75% in patients who had received three or fewer prior lines of therapy, supporting the idea of moving the treatment to earlier-line patients.
Despite the broader difficult biotech environment and bearish sentiment towards cell therapy, Goldstein is optimistic about the potential of ADP-A2M4CD8. She also mentioned the possibility of Adaptimmune Therapeutics transitioning into a commercial company with afami-cel. She indicated that more significant data from the SURPASS and SURPASS-3 trials in 2024 could help revalue the shares.
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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.
