Analyst Jonathan Chang of Leerink Partners reiterated a Hold rating on Adaptimmune Therapeutics (ADAP – Research Report), with a price target of $2.00.
Jonathan Chang’s rating is based on a combination of factors including Adaptimmune Therapeutics’ recent financial performance and strategic decisions. The company reported initial revenues from Tecelra, which has shown promising launch momentum with an increase in treatment centers and no reimbursement denials. However, despite these positive developments, the company is pausing its PRAME and CD70 programs, which could impact future growth prospects.
Additionally, while Adaptimmune is implementing a strategic restructuring plan aimed at significant cost savings and achieving profitability by 2027, the company is also exploring strategic options to extend its financial runway. These mixed signals, with both positive momentum and strategic pauses, contribute to the Hold rating as the company navigates its current financial and operational landscape.
According to TipRanks, Chang is an analyst with an average return of -11.9% and a 28.74% success rate. Chang covers the Healthcare sector, focusing on stocks such as Replimune Group, Kura Oncology, and Mersana Therapeutics.
In another report released on March 20, Wells Fargo also maintained a Hold rating on the stock with a $1.50 price target.