Adaptive Biotechnologies price target raised to $9 from $8 at BTIG

BTIG raised the firm’s price target on Adaptive Biotechnologies (ADPT) to $9 from $8 and keeps a Buy rating on the shares after hosting a management meeting. The discussion leaves the firm with a “keen appreciation” that there are numerous drivers to benefit the business in 2025 and beyond, and BTIG remains bullish on Adaptive given the halo effect where the company has closed a substantial 11 new studies since the unanimous FDA Oncologic Drugs Advisory Committee meeting that endorsed minimal residual disease technology – MRD – as an accelerated approval endpoint in multiple myeloma, the analyst tells investors in a research note.