In a report released yesterday, Sung Ji Nam from BTIG maintained a Buy rating on Quotient Ltd (NASDAQ: QTNT), with a price target of $10. The company’s shares opened today at $8.35, close to its 52-week high of $8.73.
Ji Nam said:
“This morning QTNT announced it has successfully completed the concordance study portion for the EU field trials of the MosaiQ initial blood grouping microarray (IHI), triggering the availability of an additional $36mm of senior notes. QTNT achieved overall concordance of 99.6% for antigen typing (vs. 99.0% requirement) and 97.3% concordance for antibody detection (vs. 95% requirement). QTNT reiterated its regulatory and commercial milestones including CE Mark submission for the IHI microarray in C2H18, CE Mark submission for the initial Serological Diseases Screening (SDS) microarray (CMV and syphilis) in C1Q19, and FDA and CE Mark submission for the expanded IH microarray (IHII) in C2H19.”
According to TipRanks.com, Nam is a 4-star analyst with an average return of 9.4% and a 73.2% success rate. Nam covers the Healthcare sector, focusing on stocks such as Quanterix Corporation, Oxford Immunotec, and Myriad Genetics.
Quotient Ltd has an analyst consensus of Moderate Buy, with a price target consensus of $10.
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Based on Quotient Ltd’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $20.1 million. In comparison, last year the company had a GAAP net loss of $20.31 million.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of QTNT in relation to earlier this year.
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Quotient Ltd. operates as a diagnostics company. It provides immunohematology products to hospitals and blood banks. The company develops, manufactures and sells conventional reagent products to equipment manufacturers. It engages in transfusion diagnostics, which focuses on blood grouping and serological disease screening.
