This year has been very hard for most futures. The majority of stocks bottomed out during the pandemic or suffered significant losses. However, pharmaceutical companies who worked on coronavirus vaccine or tests weren’t among them. They gained handsomely as everyone needed to have these vaccines processed as fast as possible.
While Covide-19 wasn’t Adaptive Biotechnologies’ only project, the company did work in this direction together with others. This firm is truly and well-diversified, and it shows. The fundamental trajectory of its business, along with innovative platform technology, speaks in favor of Adaptive Biotechnologies.
Its immunoSEQ Dx and drug discovery also come as value drivers for the future, while steady revenue growth from the stock’s base businesses support them. According to analyst Salveen Richter, these facts indicate that this stock may gain significantly in the coming year.
Adaptive Biotechnologies Corporation has an interesting vision. By taking advantage of the inherent biology of the immune system, the company wants to transform the way people diagnose and treats diseases.
However, it’s not the firm’s only aspiration. Richter noted that it offers commercial technologies designed for specific use cases. For example, the Adaptive Biotechnologies immunoSEQ platform can be used in academic and biopharma research. The firm also developed clonoSEQ for a clinical setting, as it’s able to detect minimal residual disease.
Adaptive Biotechnologies plans to include blood-based testing (versus bone marrow), using it as a primary endpoint during clinical trials. There’s also a drug discovery pipeline that features the Amgen-partnered COVID-19 program.
What about the company’s other projects?
Adaptive Biotechnologies is currently collaborating with Genentech on the development of cellular therapies in oncology. Richter thinks that the company could potentially pursue other opportunities in cell therapy separate from the partnership.
All in all, Goldman Sachs’ analysts think this company has good potential. The Genentech agreement provides the firm with a significant milestone, along with payments on future sales of drugs that are created by utilizing the Adaptive Biotechnologies’ platform.
Furthermore, analysts view the firm’s collaborations with Genentech, AMGN, and MSFT as validation of Adaptive Biotechnologies’ approach to advance immune-driven medicine.
Richter set a price target at $60 per share for this stock, with a 55% gaining potential in the next twelve months.