Goldman Sachs Turns Bullish On Biotech With 'Significant Opportunity'

Shares of Quanterix Corp QTRX spiked in early trading on Tuesday and the stock is up almost 75% year to date.

Quanterix is a pure play on the neurology diagnostics market and has a “leading, highly sensitive, IP-protected technology platform in Simoa,” according to Goldman Sachs.

The Quanterix Analyst: Matthew Sykes upgraded the rating for Quanterix from Neutral to Buy, while raising the price target from $13 to $27.

The Quanterix Thesis: The company’s cost base has improved, resulting in “potentially greater operating leverage than the market assumes,” Sykes said in the upgrade note.

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The blood-based Alzheimer’s diagnostics opportunity is still at a very early stage and Quanterix could “play an important role” in this market, the analyst stated.

“Outside of Alzheimer’s we believe QTRX has an opportunity to be an early leader for Dx in other neurological conditions including ALS, MS, and Huntington’s,” he added.

QTRX Price Action: Shares of Quanterix had risen by 16.07% to $22.32 at the time of publication Tuesday.

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