We always seem to make new lists at the New Year, and this year is no exception. Wall Street’s analysts are scouring through the markets, finding the stocks they like, and putting together their lists of ‘Top Picks,’ the equities they see as the best of the pack heading into January.
We can get a flavor for the quality of their advice by turning to Cowen, one of the Street’s major investment firms. Three of the firm’s top analysts, all rated 5-stars from TipRanks, have selected the stocks they see as ‘top picks,’ and their comments make for interesting read. Let’s take a closer look.
Quanterix Corporation (QTRX)
We’ll start with Quanterix Corporation, a company in the life sciences niche, using new techniques in ultra-sensitive digital immunoassay platforms to generate precision research and diagnostics. Quanterix bases its diagnostic platforms on a propriety technology, Simoa, and offers a range of instruments an assay kits for improved diagnostic testing and lab work. The testing instruments are designed to enable earlier disease detection, allowing enhanced treatment and more successful patient outcomes.
In November, the company announced that its Simoa technology had shown important benefits in clinical trials for the treatment of Alzheimer’s disease. By making available the use the plasma biomarkers in diagnostic testing, the tech allows researchers to focus their trials on patients with an earlier stage of the disease, for a more efficient trial enrollment.
Points like that help to explain Quanterix’s fourth year in a row on the Deloitte Technology Fast 500 list. This is a list of the fastest-growing North America companies in the fields of tech, fintech, energy tech, life sciences, telecom, and media.
While Quanterix is bringing in accolades, the shares are actually down this year. The company’s stock has fallen 55% from its February peak. And, in addition to the falling stock, the company’s revenues are down, with the top line in 3Q21 coming in at $27.7 million, 11% lower than in the year-ago quarter.
Cowen analyst Max…