Adeptus Biotechnologies Corp. (ADPT) PT Lowered to $5 at BTIG, 'assign a lower valuation to the businesses'

BTIG analyst Mark Massaro lowered the price target on Adeptus Biotechnologies Corp. (NASDAQ: ADPT) to $5.00 (from $6.00) while maintaining a Buy rating.

The analyst commented: 'With shares of ADPT trading at ~1.7x Street's 2025 revenue estimates, we believe the stock is undervalued. We do trim our PT from $6 to $5 as we assign a lower valuation to the businesses. In our view, ADPT owns the blood-based MRD testing space in the clinic and with pharma, and remains a compelling strategic asset in the market.'

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