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On Friday, BTIG analysts showed continued confidence in Adeptus Biotechnologies Corp. (NASDAQ: ADPT), as they increased the price target on the company’s shares to $11.00, up from the previous target of $10.00. The firm has maintained a Buy rating for the stock. According to InvestingPro data, analyst targets for ADPT currently range from $7 to $12, with the stock trading at $7.36.
The upgrade comes after Adeptus Biotechnologies reported a strong first quarter, surpassing expectations and raising its financial outlook. The company, which specializes in minimal residual disease (MRD) testing, also announced a reduction in its cash burn projection for the year. During the Q1 earnings call, Adeptus Biotechnologies provided positive updates, particularly regarding advancements with commercial payors. InvestingPro data reveals the company’s strong financial position with a current ratio of 2.89, indicating robust liquidity to meet short-term obligations.
According to BTIG, Adeptus Biotechnologies is on track to achieve positive adjusted EBITDA in its MRD business by the second half of 2025. The analysts expressed that they foresee more potential for the company’s financial guidance to be exceeded this year than in any previous year they can recall. This optimism is supported by InvestingPro data showing an impressive 151% return over the last year and projected revenue growth of 18% for FY2025. Get detailed insights and 8 additional ProTips for ADPT with an InvestingPro subscription.
The firm highlighted the strong growth driven by Adeptus Biotechnologies’ core MRD clinical testing business. Despite the positive performance, the stock trades at 3.8 times BTIG’s 2026 revenue estimate of $257 million, which is below the 4.1 times average for the company’s small to mid-cap clinical diagnostics peers.
In summary, BTIG reiterated their Buy rating on Adeptus Biotechnologies, signaling optimism about the company’s financial trajectory and growth potential within the clinical diagnostics market. The raised price target reflects this positive outlook.
In other recent news, Adaptive Biotechnologies Corp (NASDAQ:ADPT) reported its financial results for the first quarter of 2025, surpassing earnings expectations. The company achieved an earnings per share (EPS) of -$0.20, which was better than the forecasted -$0.29. Additionally, Adaptive Biotechnologies posted a revenue of $52.4 million, exceeding the expected $42.81 million. The company reported a 25% increase in revenue year-over-year, driven by strong performance in its Minimal Residual Disease (MRD) revenue, which grew by 34%. Furthermore, Adaptive Biotechnologies raised its MRD revenue guidance for the year to between $180 million and $190 million. The company also lowered its operating expense guidance to a range of $335 million to $345 million, reflecting cost management efforts. The firm aims to achieve adjusted EBITDA positivity in the second half of 2025, supported by the anticipated launch of NovaSeq X. In analyst notes, Goldman Sachs and BTIG analysts expressed interest in the company’s growth strategy, particularly in its MRD testing services.
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