Brokerages Anticipate Quanterix Co. (NASDAQ:QTRX) Will Announce Earnings of -$0.64 Per Share

Wall Street brokerages expect Quanterix Co. (NASDAQ:QTRXGet Rating) to post earnings of ($0.64) per share for the current quarter, Zacks reports. Three analysts have issued estimates for Quanterix’s earnings. The highest EPS estimate is ($0.60) and the lowest is ($0.67). Quanterix reported earnings per share of ($0.29) in the same quarter last year, which indicates a negative year over year growth rate of 120.7%. The business is scheduled to announce its next earnings results before the market opens on Monday, January 1st.

On average, analysts expect that Quanterix will report full-year earnings of ($2.26) per share for the current fiscal year, with EPS estimates ranging from ($2.62) to ($1.90). For the next financial year, analysts forecast that the company will post earnings of ($1.44) per share, with EPS estimates ranging from ($2.19) to ($0.69). Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Quanterix.

Quanterix (NASDAQ:QTRXGet Rating) last released its earnings results on Tuesday, March 1st. The company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.11. The business had revenue of $29.31 million during the quarter, compared to the consensus estimate of $29.00 million. Quanterix had a negative return on equity of 12.58% and a negative net margin of 52.18%. During the same period last year, the company earned ($0.31) earnings per share.

QTRX has been the subject of several recent research reports. The Goldman Sachs Group decreased their price objective on Quanterix from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, April 13th. Zacks Investment Research upgraded Quanterix from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 26th. SVB Leerink decreased their price objective on Quanterix from $70.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, March 2nd. Finally, JPMorgan Chase & Co. cut their target price on Quanterix from $85.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 2nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Quanterix presently has a consensus rating of “Buy” and an average target price of $54.60.

In other Quanterix news, CEO E Kevin Hrusovsky sold 1,364 shares of Quanterix stock in a transaction dated Wednesday, February 9th. The stock was sold at an average price of $34.97, for a total value of $47,699.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP David C. Duffy sold 3,266 shares of the business’s stock in a transaction dated Wednesday, March 23rd. The stock was sold at an average price of $30.00, for a total value of $97,980.00. The disclosure for this sale can be found here. Insiders sold 8,623 shares of company stock worth $262,272 in the last quarter. 15.40% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Advisor Group Holdings Inc. grew its stake in shares of Quanterix by 184.6% during the first quarter. Advisor Group Holdings Inc. now owns 885 shares of the company’s stock worth $404,000 after acquiring an additional 574 shares during the last quarter. Citigroup Inc. grew its stake in shares of Quanterix by 93.9% during the third quarter. Citigroup Inc. now owns 4,045 shares of the company’s stock worth $201,000 after acquiring an additional 1,959 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Quanterix during the third quarter worth about $227,000. Mackenzie Financial Corp acquired a new stake in shares of Quanterix during the third quarter worth about $260,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Quanterix during the fourth quarter worth about $286,000. Institutional investors and hedge funds own 86.46% of the company’s stock.

QTRX stock opened at $22.55 on Friday. The business has a 50-day moving average price of $26.92 and a 200 day moving average price of $35.45. The company has a market capitalization of $832.07 million, a P/E ratio of -14.09 and a beta of 1.59. Quanterix has a 1-year low of $21.13 and a 1-year high of $69.22.

About Quanterix (Get Rating)

Quanterix Corporation, a life sciences company, engages in development and marketing of digital immunoassay platforms that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific regions. It offers HD-X instrument, a sensitive automated multiplex protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection technology in various applications, including direct detection of nucleic acids.

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Earnings History and Estimates for Quanterix (NASDAQ:QTRX)

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