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 has given her Buy rating for Adaptimmune Therapeutics due to a combination of factors. The recent data updates from lete-cel and afami-cel, which are to be presented at CTOS 2023, show promising results. Specifically, lete-cel met its primary endpoint with a 40% Objective Response Rate (ORR) in the treatment of synovial sarcoma (SS) or myxoid/round cell liposarcoma (MRCLS). This indicates a strategy for capturing a greater market share in the SS/MRCLS market as both lete-cel and afami-cel target different areas (NY-ESO-1 vs MAGE-A4).
Furthermore, Goldstein noted that the company’s management confirmed the near-term focus is on the completion of afami-cel’s Biologics License Application (BLA) in the fourth quarter of 2023. However, lete-cel also has the potential to use Adaptimmune Therapeutics’ platform. The overall patient responses, the ongoing treatment responses at data cutoff, and the low percentage of ICANS all contributed to Goldstein’s optimism and buy rating for the stock. The company’s strong performance and potential growth opportunities have contributed to this positive rating.
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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.
