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 affecting Quanterix’s financial performance. The company’s second-quarter sales fell short of both the firm’s and consensus estimates, primarily due to weak demand from academic and biopharma sectors. This underperformance was reflected in the lowered guidance for the core business, excluding the recent Akoya acquisition, indicating ongoing challenges in customer activity.
Despite these headwinds, there are positive developments on the horizon for Quanterix, such as the integration with Akoya, the upcoming launch of the SIMOA ONE instrument, and advancements in their Alzheimer’s diagnostic offerings. However, the lack of clarity on when market pressures will ease and the need to see tangible benefits from the Akoya deal contribute to the Hold rating. The company’s shares have been underperforming, trading at a negative enterprise value, which further supports a cautious stance until more concrete signs of improvement emerge.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $5.50 price target.