In a report released yesterday, Daniel Brennan from TD Cowen maintained a Hold rating on Quanterix, with a price target of $7.00.
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Daniel Brennan has given his Hold rating due to a combination of factors that reflect both positive developments and ongoing challenges for Quanterix. The company’s third-quarter performance showed a notable sales beat, primarily driven by Akoya, which exceeded expectations. However, the core Quanterix segment showed mixed results, with some areas performing better than anticipated while others lagged behind.
Despite signs of improvement in the US A&G and Pharma sectors, and optimism surrounding cost synergies and new product potential, there are still concerns about the implied revenue guidance for the fourth quarter, which falls below consensus. Additionally, while there are promising aspects such as the Akoya integration and potential in new products, the persistence of year-over-year sales declines and the need for more visibility on the AKYA transaction contribute to the Hold rating. The current valuation is considered undemanding, but more evidence of a turnaround in the core business is needed to justify a more favorable rating.
According to TipRanks, Brennan is a 5-star analyst with an average return of 21.9% and a 57.81% success rate. Brennan covers the Healthcare sector, focusing on stocks such as Natera, Agilent, and Bruker.
In another report released on October 28, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $5.50 price target.