William Blair analyst Andrew Brackmann has maintained their bullish stance on ADPT stock, giving a Buy rating today.
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Andrew Brackmann has given his Buy rating due to a combination of factors including Adaptive Biotechnologies’ recent licensing agreements with Pfizer. These agreements, which focus on immune receptor licensing and data licensing, are seen as a validation of Adaptive’s strategy to monetize its data and advance clinical product development. The collaboration with Pfizer, particularly in rheumatoid arthritis, highlights Adaptive’s expertise in identifying disease-specific T-cell receptors, which could lead to significant milestone payments.
Furthermore, the nonexclusive nature of these agreements suggests potential for additional partnerships with other pharmaceutical companies, enhancing Adaptive’s revenue prospects. The company’s infrastructure and scientific capabilities also position it well to explore new diagnostic opportunities in autoimmune diseases, which, although not expected to drive immediate revenue, represent a promising area for future growth. These strategic moves underpin Brackmann’s confidence in the company’s long-term potential.
Brackmann covers the Healthcare sector, focusing on stocks such as Exact Sciences, Adaptive Biotechnologies, and BillionToOne, Inc. Class A. According to TipRanks, Brackmann has an average return of 32.3% and a 71.19% success rate on recommended stocks.
In another report released today, Piper Sandler also reiterated a Buy rating on the stock with a $20.00 price target.