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Diagnostics stock receives 40% rally potential upgrade by Goldman Sachs

Goldman Sachs upgrades this little-known diagnostics stock, says it can rally 40% from here

Goldman Sachs upgrades this little-known diagnostics stock, says it can rally 40% from here

Goldman Sachs Upgrades Quanterix Stock to Buy, with $27 per Share Price Target

The diagnostic company Quanterix could potentially see over 40% upside from Monday’s closing price, according to Goldman Sachs. On Tuesday, the firm upgraded Quanterix stock from neutral to buy, with a $27 per share price target.

Quanterix specializes in biomarker analysis digitization to screen for diseases and sickness in blood tissue or serum. Their potential ability to be a leader in diagnostics related to Alzheimer’s, as well as companion diagnostics testing for other conditions including amyotrophic lateral sclerosis, multiple sclerosis, and Huntington’s disease were highlighted by analyst Matthew Sykes, who also noted the company’s improved cost base.

“We see QTRX as a pure play on the neurology diagnostics market with a leading, highly sensitive, IP protected technology platform in Simoa,” Sykes said. “Simply put, given the large [total addressable market] in Alzheimer’s, the market leading sensitivity of the Simoa platform and the clear advantages of using blood-based tests in neurological drug trial design, we believe QTRX has a significant opportunity for future growth.”

Shares of Quanterix have surged over 38% this year and increased by 7% in premarket trading on Tuesday.

FAQs:

What does Quanterix specialize in?
Quanterix specializes in digitizing biomarker analysis in blood tissue or serum to screen for potential diseases and sickness.

What conditions could Quanterix potentially provide companion diagnostics testing for?
Quanterix could potentially provide companion diagnostics testing for conditions including Alzheimer’s, amyotrophic lateral sclerosis, multiple sclerosis and Huntington’s disease.

What is Goldman Sachs’ price target for Quanterix stock?
Goldman Sachs’ price target for Quanterix stock is $27 per share.

By how much could Quanterix’s stock potentially increase?
According to Goldman Sachs, Quanterix’s stock could potentially increase by more than 40% from Monday’s closing price.

How much have shares of Quanterix increased this year?
Shares of Quanterix have surged over 38% this year.

Goldman Sachs upgrades this little-known diagnostics stock, says it can rally 40% from here
Goldman Sachs upgrades this little-known diagnostics stock, says it can rally 40% from here

Goldman Sachs boosts rating on obscure diagnostic stock, anticipates 40% surge ahead.

Goldman Sachs is upgrading its rating for Quanterix, expressing optimism in the company’s potential to capitalize on a stronger cost base and advancements in companion diagnostics. Quanterix specializes in digitizing biomarker analysis, which is used to screen for potential diseases and illnesses in blood tissue or serum. Analyst Matthew Sykes believes Quanterix has the potential to be a leader in diagnostics related to Alzheimer’s, as well as companion diagnostics testing for other conditions including ALS, multiple sclerosis, and Huntington’s disease. He also notes that Quanterix’s cost base has improved more than the market anticipated. The upgrade to a buy rating and $27-per-share price target equates to more than 40% upside from Monday’s $19.23 close on Monday. Quanterix shares have already been surging this year, up over 38%, with a further 7% increase in pre-market trading on Tuesday.

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