Adaptive Biotechnologies (ADPT – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Mark Massaro from BTIG reiterated a Buy rating on the stock and has a $10.00 price target.
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Mark Massaro’s rating is based on Adaptive Biotechnologies’ strong performance and favorable future prospects. The company reported impressive fourth-quarter results, particularly in its MRD business, which exceeded expectations and demonstrated significant year-over-year growth. Adaptive Biotechnologies has set a realistic revenue target for 2025, which, given the current business trends, seems achievable and possibly even conservative.
Furthermore, the company is benefiting from price increases for its clonoSEQ test, which will likely drive higher average selling prices and contribute to revenue growth. Recent positive developments in biopharma collaborations, including new studies and the conversion of study endpoints, enhance the company’s economic prospects. These factors, combined with a valuation that remains attractive compared to peers, underpin Massaro’s Buy rating and the increased price target.
According to TipRanks, Massaro is an analyst with an average return of -7.4% and a 29.88% success rate. Massaro covers the Healthcare sector, focusing on stocks such as Personalis, Adaptive Biotechnologies, and Castle Biosciences.
In another report released yesterday, Scotiabank also reiterated a Buy rating on the stock with a $12.00 price target.