TD Cowen has raised its 12-month price target on Adeptus Biotechnologies Corp. (NASDAQ: ADPT) to $21.00 from $20.00, while maintaining its existing analyst rating. The new target sits at what the firm describes as the high end of its analyst expectations, and comes as Adeptus shares were trading at $16.34.
The upward revision follows Adeptus’ pre-announcement of fourth-quarter results together with forward guidance. The company’s earnings disclosure and subsequent investor conference call appear to have reassured analysts: Adeptus stock moved up roughly 6% in after-hours trading following the earnings report.
InvestingPro data cited alongside the report highlights a mixed short-term technical picture. On a trailing-12-month basis the company recorded strong revenue growth of 54.77%, yet the share price also suffered a near 11% decline over the previous week.
In its write-up, TD Cowen pointed to an "upbeat conference call" in which Adeptus management expressed confidence that the underlying drivers of demand and pricing for its ClonoSEQ assay would remain intact. The firm noted that the company views nascent competition in the market as manageable, and that these factors support expectations for "another solid year ahead" for the biotechnology business.
Adeptus’ ClonoSEQ assay is identified in the analyst commentary as a central revenue contributor, with emphasis placed on sustaining both volumes and per-test pricing as key performance levers.
Related company updates
The report also references recent results from Adaptive Biotechnologies Corp, which disclosed fourth-quarter 2025 results that topped analyst forecasts. The company reported earnings per share of -$0.09 versus an expected -$0.18, a positive surprise of 50%. Revenue for the period reached $71.7 million, exceeding the forecasted $59.33 million and representing a 20.85% uplift over the expectation.
Additionally, BTIG adjusted its price target on Adeptus Biotechnologies to $22.00 from $21.00 while maintaining a Buy rating. BTIG cited strong growth in the company’s Minimal Residual Disease (MRD) business, noting a 54% year-over-year increase in Q4 2025 and a 46% increase for the full year. The commentary frames these moves as part of a broader period of robust performance in the sector.
What this means going forward
Analyst support for a higher target, buoyed by positive commentary from company management, suggests confidence in near-term revenue drivers tied to the ClonoSEQ assay and MRD testing growth. At the same time, the recent volatile price action underscores investor sensitivity to short-term developments.
Market context and investor considerations
- Biotechnology and healthcare equity investors will be watching revenue rhythms and pricing for ClonoSEQ as primary performance indicators.
- Analyst revisions and peer earnings in the space are shaping sentiment for Adeptus shares in the near term.