Adaptimmune Therapeutics (NASDAQ:ADAP) Announces Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Adaptimmune Therapeutics (NASDAQ:ADAP) announced its quarterly earnings results on Monday. The biotechnology company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09), Zacks reports. Adaptimmune Therapeutics had a negative net margin of 25.43% and a negative return on equity of 74.15%. The business had revenue of $3.22 million for the quarter, compared to analyst estimates of $16.56 million.

Adaptimmune Therapeutics Stock Down 9.7 %

ADAP opened at $0.25 on Wednesday. The stock’s 50 day moving average price is $0.53 and its 200 day moving average price is $0.68. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.85 and a quick ratio of 3.82. The stock has a market cap of $63.97 million, a P/E ratio of -1.14 and a beta of 2.52. Adaptimmune Therapeutics has a 12 month low of $0.25 and a 12 month high of $1.65.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ADAP shares. Mizuho reduced their target price on shares of Adaptimmune Therapeutics from $3.00 to $1.50 and set an “outperform” rating on the stock in a research report on Wednesday, November 27th. Scotiabank cut their price objective on shares of Adaptimmune Therapeutics from $3.15 to $1.40 and set a “sector outperform” rating on the stock in a report on Friday, March 21st. StockNews.com initiated coverage on shares of Adaptimmune Therapeutics in a research report on Friday, March 21st. They issued a “buy” rating for the company. Finally, Wells Fargo & Company dropped their target price on Adaptimmune Therapeutics from $2.00 to $1.50 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Adaptimmune Therapeutics has an average rating of “Moderate Buy” and an average target price of $2.18.

Adaptimmune Therapeutics Company Profile

Adaptimmune Therapeutics plc, a clinical-stage biopharmaceutical company, provides novel cell therapies primarily to cancer patients in the United States and the United Kingdom. It develops SPEARHEAD-1 that is in phase II clinical trials with ADP-A2M4 for synovial sarcoma; SURPASS-3 that is in phase II clinical trial with ADP-A2M4CD8 for people with platinum resistant ovarian cancer; and SURPASS that is in phase I clinical trials in patients with head and neck, and urothelial cancers.