Quanterix Co. (NASDAQ:QTRX) to Post Q2 2022 Earnings of ($0.67) Per Share, SVB Leerink Forecasts

Quanterix Co. (NASDAQ:QTRXGet Rating) – Stock analysts at SVB Leerink dropped their Q2 2022 earnings per share estimates for shares of Quanterix in a research report issued to clients and investors on Tuesday, May 10th. SVB Leerink analyst P. Souda now forecasts that the company will post earnings per share of ($0.67) for the quarter, down from their previous estimate of ($0.66). SVB Leerink currently has a “Outperform” rating and a $50.00 target price on the stock. SVB Leerink also issued estimates for Quanterix’s Q3 2022 earnings at ($0.68) EPS, Q4 2022 earnings at ($0.65) EPS, FY2022 earnings at ($2.49) EPS, Q2 2023 earnings at ($0.53) EPS, Q4 2023 earnings at ($0.54) EPS and FY2023 earnings at ($2.20) EPS.

QTRX has been the subject of several other reports. Zacks Investment Research upgraded Quanterix from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 26th. Cowen decreased their target price on Quanterix from $60.00 to $38.00 in a research report on Wednesday. Cowen lowered their target price on Quanterix from $60.00 to $38.00 in a report on Wednesday. JPMorgan Chase & Co. reduced their price target on Quanterix from $85.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 2nd. Finally, The Goldman Sachs Group cut their target price on Quanterix from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 13th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Quanterix currently has a consensus rating of “Buy” and an average target price of $49.86.

Shares of QTRX stock opened at $15.75 on Friday. The stock’s fifty day moving average price is $26.01 and its two-hundred day moving average price is $34.76. Quanterix has a fifty-two week low of $14.86 and a fifty-two week high of $69.22.

Quanterix (NASDAQ:QTRXGet Rating) last issued its quarterly earnings results on Tuesday, March 1st. The company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.11. The company had revenue of $29.31 million during the quarter, compared to the consensus estimate of $29.00 million. Quanterix had a negative net margin of 58.23% and a negative return on equity of 14.47%. During the same quarter in the prior year, the firm posted ($0.31) EPS.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QTRX. Macquarie Group Ltd. raised its stake in shares of Quanterix by 10.9% in the third quarter. Macquarie Group Ltd. now owns 3,133,235 shares of the company’s stock worth $156,004,000 after purchasing an additional 308,393 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Quanterix by 27.1% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,239,798 shares of the company’s stock worth $52,567,000 after purchasing an additional 264,299 shares during the last quarter. CWM LLC purchased a new position in shares of Quanterix in the fourth quarter worth $11,192,000. Millennium Management LLC raised its stake in shares of Quanterix by 31.2% in the fourth quarter. Millennium Management LLC now owns 1,050,864 shares of the company’s stock worth $44,557,000 after purchasing an additional 249,741 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Quanterix in the fourth quarter worth $7,827,000. Institutional investors own 86.46% of the company’s stock.

In related news, SVP David C. Duffy sold 3,266 shares of the firm’s stock in a transaction dated Wednesday, March 23rd. The stock was sold at an average price of $30.00, for a total transaction of $97,980.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO E Kevin Hrusovsky sold 868 shares of Quanterix stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $29.79, for a total value of $25,857.72. Following the completion of the transaction, the chief executive officer now directly owns 886,976 shares in the company, valued at $26,423,015.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,168 shares of company stock worth $176,421. Company insiders own 15.40% of the company’s stock.

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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