Adaptive Biotechnologies price target raised to $20 from $15 at Piper Sandler

Piper Sandler raised the firm’s price target on Adaptive Biotechnologies (ADPT) to $20 from $15 and keeps an Overweight rating on the shares. The firm notes it surveyed 59 doctors but focused on the 28 who see blood cancers. From its survey, Adaptive continues to stand out as an underappreciated stock in the MRD space, holding the second-highest revenues and volumes specifically linked to minimal residual disease detection, and serving the most covered lives. Piper believes the company has significant growth potential, projecting approximately 30% increases in both volume over the next few years, driven by expanded EMR adoption, recent strategic partnerships, blood-based testing options, and ongoing clinical trials.