Analyst Kyle Mikson CFA from Canaccord Genuity maintained a Buy rating on Quanterix (QTRX – Research Report) and decreased the price target to $15.00 from $20.00.
Kyle Mikson CFA has given his Buy rating due to a combination of factors, including Quanterix’s solid performance in the fourth quarter of 2024, which exceeded both their estimates and the FactSet consensus. Despite the challenges posed by U.S. academic funding uncertainties, which could impact near-term performance, Mikson believes there are multiple drivers for potential double-digit revenue growth that could gradually enhance the stock’s value over time.
Furthermore, Mikson remains supportive of Quanterix’s merger with Akoya Biosciences, viewing it as a strategic move that could position the combined entity more favorably in the market. Although there are concerns regarding the merger’s impact on share price and potential issues with Akoya’s business consistency, Mikson sees the valuation as appropriate. Additionally, new product launches and the Accelerator lab are expected to help mitigate some of the macroeconomic headwinds affecting product revenue, reinforcing the Buy rating despite a reduced price target.
Mikson CFA covers the Healthcare sector, focusing on stocks such as Illumina, Natera, and Guardant Health. According to TipRanks, Mikson CFA has an average return of -15.3% and a 27.05% success rate on recommended stocks.