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Canaccord Genuity reiterated its Buy rating and $12.00 price target on Quanterix Corp. (NASDAQ:QTRX) following discussions with the company’s management about growth drivers and its pending merger with Akoya. According to InvestingPro data, analysts’ price targets range from $7 to $18, suggesting significant upside potential despite the stock’s recent 7.8% weekly decline.
Quanterix management indicated it may provide an update on reimbursement for its Alzheimer’s disease diagnostics in summer 2025 and aims to submit data for LucentAD Complete to the FDA by the end of 2025. The company described itself as in "show me" mode regarding the Akoya acquisition, which is expected to close in early to mid-third quarter of 2025. InvestingPro analysis shows the company maintains a strong financial health score of 2.89 (GOOD), with a healthy current ratio of 8.29.
Recent insider purchases have contributed to meaningful stock price appreciation, potentially suggesting these individuals believe the stock is undervalued or reflecting a lockup period associated with the merger. InvestingPro’s Fair Value analysis indicates the stock is currently trading below its Fair Value, supporting the insider buying activity.
Canaccord has decreased its second-quarter 2025 and full-year 2025 estimates for Quanterix to reflect continued academic and biopharma funding challenges that could impact the company’s performance.
Despite near-term challenges, Canaccord believes new product launches and benefits from the Akoya acquisition should drive stronger performance and higher valuation levels for Quanterix over time.
In other recent news, Quanterix Corporation reported its Q1 2025 earnings, highlighting a revenue of $30.3 million, which fell short of expectations, and an earnings per share (EPS) of -$0.53, missing the forecast of -$0.43. This marks a 5% decline in revenue year-over-year, with a notable 36% drop in accelerator lab revenue, although consumables revenue rose by 6%. Additionally, Quanterix has revised its full-year 2025 revenue guidance to a range of $120-130 million and aims for positive cash flow by 2026. In another development, Quanterix announced a significant change in its auditing firm, appointing KPMG LLP as its new auditor for the fiscal year ending December 31, 2025, following the dismissal of Ernst & Young LLP. The change comes after EY reported material weaknesses in Quanterix’s internal control over financial reporting, specifically related to inventory valuation and revenue accounting. Furthermore, Quanterix has amended its merger agreement with Akoya Biosciences, reducing the transaction’s equity value by 67% to $66 million, with expectations that Akoya will contribute significantly to Quanterix’s top line and gross profit. These recent developments underscore the company’s strategic adjustments in response to market conditions and internal challenges.
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