As previously reported, SVB Securities analyst Puneet Souda upgraded Quanterix to Outperform from Market Perform with a price target of $30, up from $25. The firm continues to see strong evidence for its assays redevelopment effort and consecutive 3 quarters of gross margin improvement being a key metric that highlights the turnaround. Further, SVB believes Quanterix’s highly sensitive Simoa platform using pTau-217 antibody and its recently launched blood based LucentAD tests for Alzheimer’s Dx could present upside in 2024 despite the emerging competition in the market. The company also delivered a beat and raise in the quarter, with the firm seeing an attractive setup in 2023/2024 with valuation and 2023 guidance still at conservative levels, with revenue and margin expectations now at $110M-$116M and gross margins in high-40s range, respectively.
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Read More on QTRX:
- Quanterix sees FY23 revenue $110M-$116M, consensus $108.45M
- Quanterix reports Q2 EPS (16c), consensus (38c)
- Quanterix launches LucentAD biomarker blood test for AD patients
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