Adicet Bio, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst John Newman from Canaccord Genuity maintained a Buy rating on the stock and has a $8.00 price target.
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John Newman has given his Buy rating due to a combination of factors surrounding Adicet Bio’s promising developments. The company is on track to present initial data for ADI-001 in autoimmune diseases by the second half of 2025, with expectations to showcase safety and efficacy metrics such as B-cell depletion and immune reset. This aligns with FDA’s reasonable benchmarks for efficacy in autoimmune conditions, which Adicet appears well-positioned to meet.
Furthermore, Adicet’s approach with allogeneic CARTs offers a significant advantage over autologous methods, as it does not require patients to pause immunosuppressive treatments. This is particularly beneficial for patients with severe autoimmune diseases who cannot afford lengthy interruptions in their therapy. Additionally, the company’s plans to file an IND for ADI-212 in prostate cancer by early 2026, with potential data by the end of that year, further supports the positive outlook. These strategic developments underpin Newman’s confidence in maintaining a Buy rating with an $8 price target.