William Blair analyst Andrew Brackmann has reiterated their bullish stance on ADPT stock, giving a Buy rating on August 6.
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Andrew Brackmann has given his Buy rating due to a combination of factors that highlight Adaptive Biotechnologies’ strategic positioning and future potential. The termination of the collaboration with Genentech, effective February 2026, is seen as a positive development, as it releases Adaptive from exclusivity obligations related to cell therapies in oncology. This newfound flexibility allows the company to explore new partnerships and opportunities that could leverage its extensive library.
Moreover, the company is set to recognize $33.7 million of noncash revenue in the second half of 2025, which is a financial positive. Despite the termination, Adaptive remains committed to its internal immune medicine objectives, including advancing digital TCR-antigen prediction models and developing a preclinical data package for its lead T-cell depletion program in autoimmunity. These strategic initiatives underscore the company’s focus on innovation and growth, reinforcing the Buy rating.
In another report released on August 6, TD Cowen also assigned a Buy rating to the stock with a $15.00 price target.