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In a report released yesterday, Sung Ji Nam from BTIG assigned a Buy rating to Quotient Ltd (NASDAQ: QTNT), with a price target of $10. The company’s shares closed yesterday at $7.29, close to its 52-week high of $7.73.
Ji Nam noted:
“PT: QTNT reported F4Q18 (March) results, with the legacy conventional reagent business continuing to post solid growth (+19% for FY18). More importantly, the company announced the appointment of Mr. Franz Walt as the CEO (previously Interim CEO; see our note here), who we believe has the track record of strong leadership in the diagnostics industry to lead QTNT through MosaiQ commercialization and the next phase of growth. The European field trials for the initial MosaiQ IH microarray are well underway, and based on early observations, QTNT remains confident in completing the concordance phase of the trials in June and European regulatory submission in the second half of CY18. Beyond the initial IH microarray, QTNT is targeting European regulatory submission for the initial serological disease screening (SDS) microarray in the first half of CY19, commencement of U.S.”
According to TipRanks.com, Nam is a 4-star analyst with an average return of 5.4% and a 70.4% success rate. Nam covers the Healthcare sector, focusing on stocks such as Oxford Immunotec, Myriad Genetics, and Thermo Fisher.
Quotient Ltd has an analyst consensus of Moderate Buy, with a price target consensus of $10.
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The company has a one-year high of $7.73 and a one-year low of $2.78. Currently, Quotient Ltd has an average volume of 447.3K.
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.
