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Investing.com - Morgan Stanley (NYSE:MS) has raised its price target on Adeptus Biotechnologies Corp. (NASDAQ:ADPT) to $11.00 from $9.00 while maintaining an Equalweight rating on the stock. The company’s shares have shown remarkable momentum, delivering a 139.7% return over the past year, with the stock currently trading at $11.05.
The price target increase follows what Morgan Stanley described as "another solid beat/raise" by the biotechnology company, with continued momentum in clonoSEQ volume and average selling price (ASP).
The firm noted that Adeptus has achieved positive EBITDA for its minimal residual disease (MRD) business ahead of schedule, attributing the performance to gains in payor traction and community/EMR uptake.
Morgan Stanley indicated there is potential for estimate upside in the second half of the year for Adeptus Biotechnologies.
The research firm emphasized that "consistent execution" will be key for further stock appreciation, noting that shares are currently trading in line with comparable companies in the sector.
In other recent news, Adaptive Biotechnologies reported its second-quarter 2025 earnings, surpassing expectations with a revenue of $58.9 million, marking a 36% increase compared to the previous year. The company also reported an earnings per share of -$0.17, which was better than the forecasted -$0.24. Additionally, Adeptus Biotechnologies has shown notable progress in its financial performance. The company achieved adjusted EBITDA positivity in its core MRD business during Q2 2025, ahead of its initial plan. This strong performance led BTIG to raise its price target for Adeptus Biotechnologies to $14.00 from $13.00 while maintaining a Buy rating. These developments reflect significant growth and positive trends for both companies.
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