Brokerages predict that Adaptimmune Therapeutics PLC – (NASDAQ:ADAP) will report $4.25 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Adaptimmune Therapeutics’ earnings. The highest sales estimate is $7.00 million and the lowest is $1.50 million. Adaptimmune Therapeutics reported sales of $40.79 million during the same quarter last year, which indicates a negative year-over-year growth rate of 89.6%. The firm is scheduled to announce its next earnings report on Tuesday, November 5th.
According to Zacks, analysts expect that Adaptimmune Therapeutics will report full-year sales of $9.40 million for the current financial year, with estimates ranging from $200,000.00 to $20.00 million. For the next year, analysts forecast that the company will report sales of $17.75 million, with estimates ranging from $1.00 million to $36.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Adaptimmune Therapeutics.
Adaptimmune Therapeutics (NASDAQ:ADAP) last issued its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.07). The company had revenue of $0.16 million during the quarter, compared to analyst estimates of $4.25 million. Adaptimmune Therapeutics had a negative net margin of 161.09% and a negative return on equity of 42.78%.
ADAP has been the subject of several analyst reports. BidaskClub cut Adaptimmune Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, July 26th. Guggenheim cut Adaptimmune Therapeutics from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. Leerink Swann cut Adaptimmune Therapeutics from an “outperform” rating to a “market perform” rating and set a $4.15 price objective for the company. in a report on Tuesday, May 7th. Svb Leerink reissued a “market perform” rating and issued a $5.00 price objective (down previously from $12.00) on shares of Adaptimmune Therapeutics in a report on Tuesday, May 7th. Finally, Citigroup reissued a “buy” rating and issued a $8.00 price objective on shares of Adaptimmune Therapeutics in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $6.59.
Shares of ADAP stock traded up $0.12 on Wednesday, hitting $1.75. The company had a trading volume of 186,296 shares, compared to its average volume of 438,643. The firm has a market cap of $170.65 million, a P/E ratio of -1.82 and a beta of 1.62. The company has a 50-day moving average price of $2.90 and a 200-day moving average price of $3.88. The company has a quick ratio of 6.19, a current ratio of 6.19 and a debt-to-equity ratio of 0.13. Adaptimmune Therapeutics has a twelve month low of $1.44 and a twelve month high of $14.54.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADAP. Man Group plc raised its holdings in Adaptimmune Therapeutics by 37.4% in the 2nd quarter. Man Group plc now owns 1,839,225 shares of the biotechnology company’s stock worth $7,394,000 after purchasing an additional 500,595 shares during the period. Rathbone Brothers plc raised its holdings in Adaptimmune Therapeutics by 146.6% in the 2nd quarter. Rathbone Brothers plc now owns 704,472 shares of the biotechnology company’s stock worth $2,832,000 after purchasing an additional 418,750 shares during the period. Baillie Gifford & Co. raised its holdings in Adaptimmune Therapeutics by 7.9% in the 2nd quarter. Baillie Gifford & Co. now owns 4,143,840 shares of the biotechnology company’s stock worth $16,658,000 after purchasing an additional 304,650 shares during the period. Deutsche Bank AG raised its holdings in Adaptimmune Therapeutics by 1,681,328.6% in the 4th quarter. Deutsche Bank AG now owns 117,700 shares of the biotechnology company’s stock worth $676,000 after purchasing an additional 117,693 shares during the period. Finally, BlackRock Inc. raised its holdings in Adaptimmune Therapeutics by 10.4% in the 4th quarter. BlackRock Inc. now owns 856,415 shares of the biotechnology company’s stock worth $4,924,000 after purchasing an additional 81,010 shares during the period. 66.24% of the stock is owned by institutional investors.
About Adaptimmune Therapeutics
Adaptimmune Therapeutics plc, a clinical-stage biopharmaceutical company, focuses on providing novel cell therapies primarily to patients with solid tumors in the United States. The company's specific peptide enhanced affinity receptor T-cell platform enables it to identify cancer targets. It is involved in developing ADP-A2M10 that is in the phase I clinical trials for the treatment of non-small cell lung cancer (NSCLC), as well as urothelial, melanoma, and head and neck cancers; ADP-A2M4 that is in phase I clinical trial for solid tumor indication that include urothelial, melanoma, head and neck, ovarian, NSCLC, esophageal, gastric, synovial sarcoma, and myxoid round cell liposarcoma cancers; and ADP-A2AFP that is in phase I clinical trial for hepatocellular carcinoma.
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