William Blair analyst Andrew Brackmann has maintained their bullish stance on ADPT stock, giving a Buy rating today.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Andrew Brackmann has given his Buy rating due to a combination of factors including Adaptive Biotechnologies’ strong performance in the third quarter. The company showed significant growth in clonoSEQ volume and average selling prices, alongside the MRD business becoming cash flow positive.
The management highlighted several favorable conditions for the MRD segment, such as electronic medical record integrations, guideline inclusions, payer renegotiations, and expansion into community channels. These factors are expected to drive continued growth in volume and pricing through 2026. Furthermore, the company’s shares have seen a substantial increase this year, and there is potential for further gains as revenue and margin targets are likely to be exceeded. The growing interest in diagnostics assets like Adaptive, due to their robust and low-risk nature, supports the positive outlook and Buy rating.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $22.00 price target.