William Blair analyst Andrew Brackmann has reiterated their bullish stance on ADPT stock, giving a Buy rating yesterday.
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Andrew Brackmann has given his Buy rating due to a combination of factors that highlight Adaptive Biotechnologies’ strong market position and growth potential. Despite recent market fluctuations following Natera’s acquisition of Foresight Diagnostics, Adaptive remains the leader in the minimal residual disease (MRD) testing market for blood cancers. This leadership is bolstered by their clonoSEQ test, which is applicable to a wide range of blood cancers, including multiple myeloma and lymphomas.
Furthermore, Adaptive is expanding its competitive edge by enhancing reimbursement processes, integrating more deeply into electronic medical records, and broadening its datasets to support clinical use. The company’s involvement in numerous clinical trials, with clonoSEQ being a key endpoint, further solidifies its position as a preferred partner for pharmaceutical companies. These strategic moves and the company’s established market presence underpin Brackmann’s confidence in recommending a Buy rating for Adaptive Biotechnologies.
According to TipRanks, Brackmann is a 5-star analyst with an average return of 30.2% and a 69.64% success rate. Brackmann covers the Healthcare sector, focusing on stocks such as Exact Sciences, Hologic, and QuidelOrtho.
In another report released yesterday, Piper Sandler also maintained a Buy rating on the stock with a $20.00 price target.