In a report released today, David Westenberg from Piper Sandler maintained a Buy rating on Adaptive Biotechnologies (ADPT – Research Report), with a price target of $13.00. The company’s shares opened today at $3.83.
According to TipRanks, Westenberg is an analyst with an average return of -5.4% and a 37.31% success rate. Westenberg covers the Healthcare sector, focusing on stocks such as Adaptive Biotechnologies, Idexx Laboratories, and Illumina.
Currently, the analyst consensus on Adaptive Biotechnologies is a Strong Buy with an average price target of $10.00, implying a 161.10% upside from current levels. In a report released today, BTIG also reiterated a Buy rating on the stock with a $7.00 price target.
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Based on Adaptive Biotechnologies’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $48.93 million and a GAAP net loss of $47.81 million. In comparison, last year the company earned a revenue of $43.66 million and had a GAAP net loss of $52.05 million
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Adaptive Biotechnologies (ADPT) Company Description:
Adaptive Biotechnologies Corp. engages in the development of an immune medicine platform. It harnesses the inherent biology of the adaptive immune system to transform the diagnosis and treatment of disease. Its products and services include immunoSEQ, clonoSEQ, cellular therapy, and vaccines. The company was founded by Chad Robins, Harlan Robins, and Chris Carlson in September 2009 and is headquartered in Seattle, WA.
Read More on ADPT:
- Adaptive Biotechnologies announces new collaboration with BeiGene
- Adaptive Biotechnologies Announces New Translational Collaboration to Measure Minimal Residual Disease with clonoSEQ® Assay Across BeiGene’s Lymphoid Malignancy Pipeline
- Adaptive Biotechnologies price target lowered to $10 from $13 at Morgan Stanley
- Adaptive Biotechnologies price target lowered to $13 from $14 at Piper Sandler
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