Adaptive Biotechnologies (NASDAQ:ADPT) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

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Adaptive Biotechnologies (NASDAQ:ADPT) posted its quarterly earnings results on Tuesday. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.06, Bloomberg Earnings reports. The company had revenue of $26.10 million during the quarter, compared to analysts’ expectations of $22.09 million. The firm’s revenue was up 51.7% on a year-over-year basis.

Shares of NASDAQ:ADPT opened at $28.35 on Wednesday. Adaptive Biotechnologies has a fifty-two week low of $24.05 and a fifty-two week high of $55.12. The stock has a 50-day simple moving average of $29.06.

Several equities analysts have recently issued reports on ADPT shares. Guggenheim started coverage on Adaptive Biotechnologies in a research report on Monday, July 22nd. They issued a “buy” rating and a $47.00 price target for the company. Zacks Investment Research lowered Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. William Blair started coverage on Adaptive Biotechnologies in a research report on Monday, July 22nd. They issued an “outperform” rating for the company. Bank of America started coverage on Adaptive Biotechnologies in a research report on Monday, July 22nd. They issued a “buy” rating and a $45.00 price target for the company. Finally, JPMorgan Chase & Co. started coverage on Adaptive Biotechnologies in a research report on Monday, July 22nd. They issued an “overweight” rating and a $45.00 price target for the company. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $43.33.

About Adaptive Biotechnologies

Adaptive Biotechnologies Corporation develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunoSEQ research service and kit that is used to answer research questions that inform current and future clinical trials, as well as to discover new prognostic and diagnostic signals.

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