Hold Rating on Quanterix Amid Merger Uncertainties and Economic Pressures

Leerink Partners analyst Puneet Souda has maintained their neutral stance on QTRX stock, giving a Hold rating on May 12.

Puneet Souda has given his Hold rating due to a combination of factors impacting Quanterix. One of the main considerations is the potential disruption from an unsolicited bid received by AKYA, which could affect the planned merger between Quanterix and AKYA. If the merger falls through, it might actually be beneficial for Quanterix by removing uncertainties and integration challenges, especially as the company is already dealing with broader economic pressures and increasing competition in its core offerings.
Additionally, Quanterix faces constraints in countering the unsolicited bid due to limitations on issuing additional shares without shareholder approval, which could invite activist investor involvement. Despite AKYA’s board still recommending the merger, the possibility of engaging with a superior proposal introduces further uncertainty. These factors, combined with the financial terms of the existing deal, contribute to the Hold rating as they present both potential risks and opportunities for Quanterix.

In another report released on May 12, TD Cowen also maintained a Hold rating on the stock with a $7.00 price target.

QTRX’s price has also changed dramatically for the past six months – from $11.720 to $4.810, which is a -58.96% drop .