BTIG Maintains a Buy Rating on Adaptive Biotechnologies (ADPT)

​Adaptive Biotechnologies Corporation (NASDAQ:ADPT) is one of the Best Growth Stocks to Buy and Hold for the Next Decade. On June 17, BTIG maintained a Buy rating on Adaptive Biotechnologies Corporation (NASDAQ:ADPT) with a $22 price target. The rating is based on two significant announcements from the company.

​Firstly, Adaptive announced an upsized convertible notes offering of $300 million, up from the originally planned $250 million. Secondly, the company also revealed its plans to separate its MRD and immune medicine businesses. BTIG views both moves positively as it has long considered the immune medicine unit non-core, and believes spinning it off will help unlock greater value in the core MRD business.

​The firm noted that while the shares of Adaptive dipped slightly due to technical nuances around the convertible notes offering, BTIG wasn't concerned. In fact, the firm, after talking with management, came back reassured that both announcements reflect a position of strength, with strong momentum across all MRD applications.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) is involved in the development of an immune medicine platform, with its services and products inc

Fuente original: Yahoo Finance (https://finance.yahoo.com/healthcare/articles/btig-maintains-buy-rating-adaptive-221345902.html)