Park Ha Biological Technology stock rises on upcoming ticker symbol change
Investing.com - Piper Sandler raised its price target on Adeptus Biotechnologies Corp. (NASDAQ:ADPT) to $20.00 from $15.00 on Wednesday, while maintaining an Overweight rating on the stock. The new target represents significant upside from the current price of $15.58, though InvestingPro analysis suggests the stock may be trading above its Fair Value.
The research firm’s decision follows a survey of 59 doctors, with particular focus on 28 physicians who specialize in blood cancers. The survey results indicated that Adaptive holds the second-highest revenues and volumes specifically linked to minimal residual disease (MRD) detection. This market position has contributed to impressive revenue growth of 21.6% over the last twelve months, according to InvestingPro data.
Piper Sandler noted that Adeptus Biotechnologies serves the most covered lives in the MRD space and remains "underappreciated" in this market segment according to their analysis.
The firm projects approximately 30% growth in both volume and revenue for Adeptus over the next few years. This growth is expected to be driven by expanded EMR adoption, recent strategic partnerships, blood-based testing options, and ongoing clinical trials.
The price target increase represents a 33% boost from the previous $15 target, reflecting the firm’s confidence in these growth drivers and potential valuation upside for the biotechnology company.
In other recent news, Adeptus Biotechnologies announced the termination of its Strategic Collaboration and License Agreement with Genentech, effective February 9, 2026. This decision will allow Adeptus to seek new partnerships in cell therapies for oncology, as noted by BTIG, which reiterated its Buy rating and set a price target of $14.00. Piper Sandler has also raised its price target for Adeptus to $15.00, citing a strong growth outlook driven by significant volume acceleration in the company’s Minimal Residual Disease (MRD) business. Morgan Stanley increased its price target for Adeptus to $11.00, following what it described as a solid performance in clonoSEQ volume and average selling price. BTIG, in addition to reiterating its Buy rating, highlighted Adeptus’ strong second-quarter performance, which exceeded earnings expectations and led to an upward revision of its annual guidance. The company achieved adjusted EBITDA positivity in its core MRD business during the second quarter of 2025, earlier than anticipated. These developments suggest a positive trajectory for Adeptus Biotechnologies as it moves forward with new opportunities and sustained growth.
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