Adaptimmune Therapeutics PLC (ADAP) Rating Increased to Buy at Zacks Investment Research

Adaptimmune Therapeutics PLC (NASDAQ:ADAP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $9.75 price target on the biotechnology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 14.30% from the stock’s current price.

According to Zacks, “Adaptimmune Therapeutics plc is a biopharmaceutical company. The Company is focused on cancer immunotherapy products based on T-cell receptor platform. Adaptimmune Therapeutics plc is based in Abingdon, United Kingdom. “

A number of other brokerages have also commented on ADAP. Cowen and Company restated a “buy” rating on shares of Adaptimmune Therapeutics PLC in a report on Tuesday, June 6th. BidaskClub upgraded shares of Adaptimmune Therapeutics PLC from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. Leerink Swann restated an “outperform” rating and set a $15.00 price objective on shares of Adaptimmune Therapeutics PLC in a report on Friday, September 8th. Finally, ValuEngine upgraded shares of Adaptimmune Therapeutics PLC from a “strong sell” rating to a “sell” rating in a report on Thursday, July 20th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $12.38.

Shares of Adaptimmune Therapeutics PLC (ADAP) opened at 8.53 on Wednesday. The firm’s 50-day moving average is $8.47 and its 200 day moving average is $8.47. Adaptimmune Therapeutics PLC has a 52 week low of $3.76 and a 52 week high of $9.29.

Adaptimmune Therapeutics PLC (NASDAQ:ADAP) last announced its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.24) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.24). The company had revenue of $3.52 million for the quarter, compared to analysts’ expectations of $5.43 million. Adaptimmune Therapeutics PLC had a negative net margin of 438.00% and a negative return on equity of 38.73%. Equities research analysts anticipate that Adaptimmune Therapeutics PLC will post ($0.99) EPS for the current year.

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A number of hedge funds have recently modified their holdings of ADAP. Raymond James Financial Services Advisors Inc. acquired a new stake in Adaptimmune Therapeutics PLC in the 1st quarter valued at $120,000. KCG Holdings Inc. acquired a new stake in Adaptimmune Therapeutics PLC in the 1st quarter valued at $133,000. Monashee Investment Management LLC acquired a new stake in Adaptimmune Therapeutics PLC in the 1st quarter valued at $138,000. OxFORD Asset Management LLP acquired a new stake in Adaptimmune Therapeutics PLC in the 2nd quarter valued at $156,000. Finally, Paloma Partners Management Co acquired a new stake in Adaptimmune Therapeutics PLC in the 1st quarter valued at $165,000. Hedge funds and other institutional investors own 68.01% of the company’s stock.

Adaptimmune Therapeutics PLC Company Profile

Adaptimmune Therapeutics plc is a clinical-stage biopharmaceutical company. The Company is focused on cancer immunotherapy products based on its Specific Peptide Enhanced Affinity Receptor (SPEAR) T-cell platform. The Company has developed a platform that enables it to identify cancer targets, find and genetically engineer TCR, and produce TCR therapeutic candidates for administration to patients.

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