John Newman, an analyst from Canaccord Genuity, maintained the Buy rating on Adicet Bio (ACET – Research Report). The associated price target is $8.00.
John Newman’s rating is based on the promising developments in Adicet Bio’s pipeline, particularly with their ADI-001 and ADI-270 programs. The company is on track to release initial data for ADI-001 in lupus nephritis by the first half of 2025, with further data expected later that year. This program is also being expanded to other autoimmune diseases, with studies planned to begin in the second quarter of 2025.
Additionally, Adicet Bio’s ADI-270 program, targeting renal cell carcinoma, is expected to yield initial results in the first half of 2025. The company’s robust cash position, with $176 million expected to sustain operations into the second half of 2026, provides a solid financial foundation to support these key developments. These factors contribute to Newman’s confidence in the company’s potential, leading to the Buy rating and an $8 price target.
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