Analysts Expect Quanterix Co. (NASDAQ:QTRX) to Post -$0.67 Earnings Per Share

Brokerages expect that Quanterix Co. (NASDAQ:QTRXGet Rating) will announce earnings per share (EPS) of ($0.67) for the current quarter, according to Zacks. Two analysts have made estimates for Quanterix’s earnings. Quanterix reported earnings of ($0.33) per share in the same quarter last year, which suggests a negative year over year growth rate of 103%. The business is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Quanterix will report full-year earnings of ($2.49) per share for the current financial year. For the next fiscal year, analysts anticipate that the firm will report earnings of ($2.20) per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow Quanterix.

Quanterix (NASDAQ:QTRXGet Rating) last released its quarterly earnings results on Tuesday, March 1st. The company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.11. Quanterix had a negative net margin of 58.23% and a negative return on equity of 14.70%. The company had revenue of $29.31 million during the quarter, compared to analysts’ expectations of $29.00 million. During the same period in the prior year, the company earned ($0.31) earnings per share.

QTRX has been the subject of several research reports. Cowen reduced their target price on shares of Quanterix from $60.00 to $38.00 in a research note on Wednesday, May 11th. The Goldman Sachs Group reduced their target price on shares of Quanterix from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, April 13th. Cowen reduced their target price on shares of Quanterix from $60.00 to $38.00 in a research note on Wednesday, May 11th. SVB Leerink reduced their target price on shares of Quanterix from $70.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, March 2nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Quanterix from $85.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, March 2nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Quanterix has a consensus rating of “Buy” and an average target price of $49.86.

NASDAQ QTRX opened at $17.94 on Friday. The firm has a 50-day simple moving average of $23.65 and a 200 day simple moving average of $31.77. Quanterix has a twelve month low of $14.86 and a twelve month high of $69.22. The stock has a market cap of $662.17 million, a PE ratio of -9.97 and a beta of 1.59.

In other Quanterix news, SVP David C. Duffy sold 3,266 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO E Kevin Hrusovsky sold 868 shares of the stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $29.79, for a total value of $25,857.72. Following the transaction, the chief executive officer now owns 886,976 shares of the company’s stock, valued at $26,423,015.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,168 shares of company stock valued at $176,421. 15.40% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its holdings in shares of Quanterix by 151.8% during the first quarter. The Manufacturers Life Insurance Company now owns 40,270 shares of the company’s stock worth $1,159,000 after buying an additional 24,274 shares in the last quarter. Quantbot Technologies LP grew its holdings in shares of Quanterix by 78.4% during the first quarter. Quantbot Technologies LP now owns 17,078 shares of the company’s stock worth $498,000 after buying an additional 7,506 shares in the last quarter. RTW Investments LP grew its holdings in shares of Quanterix by 81.9% during the first quarter. RTW Investments LP now owns 1,248,517 shares of the company’s stock worth $36,444,000 after buying an additional 562,047 shares in the last quarter. First Republic Investment Management Inc. grew its holdings in shares of Quanterix by 32.7% during the first quarter. First Republic Investment Management Inc. now owns 140,291 shares of the company’s stock worth $4,095,000 after buying an additional 34,607 shares in the last quarter. Finally, Tikvah Management LLC grew its holdings in shares of Quanterix by 26.2% during the first quarter. Tikvah Management LLC now owns 436,119 shares of the company’s stock worth $12,730,000 after buying an additional 90,600 shares in the last quarter. Institutional investors and hedge funds own 86.46% of the company’s stock.

Quanterix Company Profile (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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