Quotient Ltd (QTNT) Shares Skyrocket Today on Back of Strong Earnings; BTIG Weighs in


In a research report sent to investors Tuesday, BTIG analyst Sung Ji Nam reiterated a Buy rating on shares of Quotient Ltd (NASDAQ:QTNT), with a price target of $12, after the company reported F3Q18 results, with revenues for the conventional reagent business coming in ahead of consensus estimates.

Nam wrote, “In terms of regulatory and commercial milestones for MosaiQ in CY18 (consistent with January 8 announcement), there are some delays to projections provided last quarter, as well as some assay development timelines that seem to have been moved up and/or where QTNT has provided more specific timing. Specifically, the commencement of European field trials for the MosaiQ IH Microarray has been delayed (from “before CY17 year-end” previously), but QTNT is now planning to complete EU field trials for IH, IH II and SDS (CMV and Syphilis) Microarrays during CY18. Additionally, QTNT expects to complete U.S. field trials for MosaiQ IH II and SDS Microarrays, as well as complete the development of both IH III (for patient testing) and SDS II Microarrays (full serological disease screening panel) in CY18 (see Exhibit 1). A broader menu of blood typing and screening assays should enable QTNT to address a larger market from the get-go, although we are getting more cautious on QTNT’s target timelines for product development and commercialization given continued changes.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Sung Ji Nam has a yearly average return of -4.1% and a 61% success rate. Nam has a -32% average return when recommending QTNT, and is ranked #4128 out of 4732 analysts.

Overall, all the 3 analysts polled in the past 12 months rate Quotient stock a Buy. With a return potential of 226%, the stock’s consensus target price stands at $13.67.