Adaptimmune Therapeutics (ADAP – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on January 31. Analyst Mara Goldstein from Mizuho Securities remains neutral on the stock and has a $9.00 price target.
Mara Goldstein has given Adaptimmune Therapeutics a Buy rating based on a combination of factors that signal a positive trajectory for the company’s valuation. The acceptance of afami-cel’s Biologics License Application (BLA) by the FDA with a priority review for advanced synovial sarcoma is a critical milestone that has the potential to bring the treatment to market in the second half of 2024, assuming it gains approval. This development not only underscores the progress of Adaptimmune’s lead candidate but also positions the company favorably for near-term growth.
Additionally, Goldstein highlights that the stock is currently trading at a significant discount compared to the firm’s price target of $9, implying substantial upside potential. The lack of an expected advisory committee meeting (AdComm) accelerates the timeline to a possible approval, which, combined with the potential for expansion opportunities from other solid tumor candidates, could lead to a valuation expansion for Adaptimmune Therapeutics. These factors collectively underpin the rationale for maintaining a Buy rating on the stock.
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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.
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