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Piper Sandler is bullish on oncology company Guardant Health for the long term. Analyst David Westenberg upgraded Guardant Health to overweight from neutral and maintained his $40 price target, which implies 55% upside for the stock from Tuesday's close. The company owns the first FDA-approved comprehensive liquid biopsy treatment for all advanced solid tumors. Shares of Guardant Health added about 6%. Guardant Health received approval from the U.S. Food and Drug Administration in January for its Guardant360 liquid biopsy test, which helps identify advanced or metastatic breast cancer patients with ESR1 mutations.
Persons: Piper Sandler, David Westenberg, Westenberg, Guardant Organizations: Guardant Health, Guardant, FDA, U.S . Food, Drug Administration Locations: U.S, MRD, Guardant
It's time to buy Adaptive Biotechnologies on its promising immune scan business, according to Piper Sandler. Analyst David Westenberg upgraded shares to overweight from neutral, saying they can nearly double from here on the company's minimal residual disease testing business. "If the company can grow MRD revenue at 50% (as they expect and we model in 2023), we think the stock would deserve a ~10X revenue multiple on its MRD business," Westenberg wrote in a Wednesday note. The analyst expects shares, which have plunged nearly 75% in 2022, can rebound next year on the strength of this growing business, as well as from its partnerships. "At this point, we think the long term 'dream-the-dream' of an annual immune system scan represents a free call option," Westenberg wrote.
Heinrich XIII, 71, belongs to the House of Reuss, an ancient royal lineage that ruled parts of what is now Thuringia in central Germany for hundreds of years until 1918. In an eccentric quirk dating back to the 12th century, male heirs to the Reuss throne are all called Heinrich, followed by a number. Heinrich may claim the hereditary title, but the House of Reuss is less than pleased with him. The House of Reuss disowned Heinrich XIII even before Wednesday’s arrest. In short, Heinrich XIII argues that Germany as we know it doesn’t exist.
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