JonesResearch upgraded Adaptimmune to Buy from Hold with a $3 price target. Adaptimmune’s Q4 earnings call provided incremental updates on their clinical programs as well as preparations for the potential commercial launch of afami-cel in Q3 of 2024, notes the analyst, who has raised the trading multiple given the improving biotech sector and added approximately $115M in projected milestones and tax credits received and anticipated in the firm’s estimates.
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