Quanterix Co. (NASDAQ:QTRX) Receives Average Rating of “Buy” from Analysts

Quanterix Co. (NASDAQ:QTRX) has earned an average recommendation of “Buy” from the six brokerages that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $32.00.

Separately, Scotiabank raised their price target on shares of Quanterix from $30.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Monday, March 4th.

Quanterix Stock Performance

QTRX stock opened at $17.15 on Tuesday. The firm has a market cap of $652.80 million, a PE ratio of -19.94 and a beta of 1.30. The firm’s fifty day moving average is $24.32 and its 200 day moving average is $23.96. Quanterix has a one year low of $11.39 and a one year high of $29.70.

Quanterix (NASDAQ:QTRX) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.05). The firm had revenue of $31.55 million for the quarter, compared to analyst estimates of $27.92 million. Quanterix had a negative net margin of 26.42% and a negative return on equity of 9.15%. Research analysts predict that Quanterix will post -1.04 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Laurie J. Olson sold 1,500 shares of Quanterix stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $24.35, for a total value of $36,525.00. Following the sale, the director now owns 15,238 shares in the company, valued at $371,045.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Quanterix

Hedge funds and other institutional investors have recently modified their holdings of the business. Gotham Asset Management LLC purchased a new position in shares of Quanterix in the third quarter worth about $423,000. Lord Abbett & CO. LLC purchased a new position in shares of Quanterix in the third quarter worth about $27,744,000. Vanguard Group Inc. lifted its stake in shares of Quanterix by 1.4% in the third quarter. Vanguard Group Inc. now owns 1,997,295 shares of the company’s stock worth $54,207,000 after buying an additional 26,660 shares in the last quarter. Emerald Mutual Fund Advisers Trust lifted its stake in shares of Quanterix by 353.4% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 313,044 shares of the company’s stock worth $8,496,000 after buying an additional 243,994 shares in the last quarter. Finally, Emerald Advisers LLC purchased a new position in shares of Quanterix in the third quarter worth about $10,462,000. 86.48% of the stock is owned by hedge funds and other institutional investors.

About Quanterix

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. The company offers HD-X instrument, a protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection in an expanded range of applications.