Analysts start Quanterix at OP, buy; PTs $27, $26

Analysts at Leerink and BTIG launched coverage of Quanterix (NASDAQ:QTRX) with “outperform” and “buy” ratings, respectively, and price targets of $27 and $26, respectively. The stock closed at $21.47 on Dec. 29.

Quanterix has developed a next-generation protein detection platform, with unprecedented sensitivity for biomarker detection and quantification in biofluids that were not possible before using conventional technologies, writes BTIG analyst Sung Ji Nam.

“For the first time, scientists using Quanterix’s Simoa (Single Molecule Assay) technology are ‘seeing’ potentially disease-implicated biomarkers that are present in extremely low concentrations in patients’ blood samples, thus opening the possibility for a paradigm shift in drug discovery and development, precision medicine diagnostics development, and preventive care,” Ms. Nam added.

Leerink analyst Puneet Souda sees a 55% revenue compound annual growth rate (2017-2020) with the company’s differentiated and highly sensitive Simoa platform and the launch of its new bench top instrument, SR-X, in the first quarter of 2018 that is expected to broaden its market position in markets estimated at $3-billion research and $8-billion diagnostics – catalyzing growth in 2018 and beyond.

Near-term, he said Quanterix stands to benefit from significant increases in NIH funding for neurology – an area that is already a stronghold for the company.

“But even more importantly, we believe having an experienced life science tools management team, with CEO Kevin Hrusovsky at its helm, is essential for execution and driving awareness for Quanterix’s differentiated technology in research and diagnostics,” Mr. Souda added.


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