BTIG analyst Mark Massaro has reiterated their bullish stance on ADPT stock, giving a Buy rating on March 31.
Mark Massaro has given his Buy rating due to a combination of factors that highlight Adaptive Biotechnologies’ promising outlook. The company recently achieved a significant milestone by securing expanded Medicare coverage for its clonoSEQ test in monitoring mantle cell lymphoma, which could pave the way for similar expansions in other cancer types. This development enhances the company’s market position and indicates potential growth in its core heme indications.
Additionally, Adaptive Biotechnologies faces minimal tariff risks and has limited exposure to global supply chain disruptions, positioning it well against market volatility. The company has also seen a substantial increase in its stock performance, outperforming many of its peers. Furthermore, anticipated price increases for the clonoSEQ test and potential conversion of clinical trial customers to primary endpoints suggest strong future revenue growth. These factors, along with a positive EBITDA outlook, support Massaro’s Buy rating and the $10 price target.
In another report released on March 31, TD Cowen also reiterated a Buy rating on the stock with a $10.00 price target.
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ADPT in relation to earlier this year.