Quanterix upgraded to Buy at Canaccord amid proteomics ratings shake-up

Canaccord upgraded Quanterix to Buy from Hold with a price target of $32, up from $25, as the firm made several changes among its proteomics coverage. The firm believes Quanterix has successfully executed on its assay redevelopment program, ahead of the firm’s expectations. Though this program may take a few more months to be fully completed, the firm is “encouraged” that the company is already benefiting from its efforts by seeing sustainably higher gross margins and reduced cash burn, leading the firm to have “modestly increased” its operating margin assumptions throughout its 10-year model, the analyst tells investors.