Adaptive Biotechnologies price target raised to $9 from $7 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Adaptive Biotechnologies (ADPT) to $9 from $7 and keeps an Equal Weight rating on the shares following what the firm calls a “solid beat/raise” report. While the firm says it sees room for second half estimate upside, it adds that valuation has now gapped up to comps, “suggesting a period of digestion may be on the cards.”