Yes, it is. For instance, Cantos (2012) studies the influence of bipolarity in Edgar Allan Poe's tales by analysing his language and language choices (among other things). I'd say you just have to be creative and think out of the box in order to find a fitting application to your research, for I wouldn't say quantitative research is pretty common in literary research. But I think it is a very interesting field to which apply it. But definitely, the answer is a yes.
