Quanterix Co. (NASDAQ:QTRX) Receives $16.20 Average Target Price from Brokerages

Shares of Quanterix Co. (NASDAQ:QTRX) have earned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $16.20.

QTRX has been the topic of several research reports. Leerink Partners reissued a “market perform” rating and issued a $8.00 price target (down previously from $12.00) on shares of Quanterix in a research report on Wednesday. Canaccord Genuity Group dropped their target price on Quanterix from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Leerink Partnrs cut Quanterix from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, Scotiabank reissued an “outperform” rating on shares of Quanterix in a report on Tuesday, March 25th.

Hedge Funds Weigh In On Quanterix

Institutional investors have recently added to or reduced their stakes in the business. Resona Asset Management Co. Ltd. bought a new position in shares of Quanterix in the fourth quarter worth approximately $55,000. Tower Research Capital LLC TRC raised its position in shares of Quanterix by 219.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,702 shares of the company’s stock valued at $61,000 after buying an additional 3,915 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Quanterix during the 4th quarter worth $66,000. Aaron Wealth Advisors LLC purchased a new position in Quanterix in the first quarter worth $79,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Quanterix in the first quarter valued at $98,000. 86.48% of the stock is currently owned by institutional investors.

Quanterix Price Performance

Shares of QTRX stock opened at $6.01 on Thursday. Quanterix has a one year low of $4.67 and a one year high of $19.18. The business’s 50 day simple moving average is $6.35 and its 200 day simple moving average is $9.32. The stock has a market capitalization of $233.12 million, a PE ratio of -5.67 and a beta of 1.12.

Quanterix (NASDAQ:QTRX) last issued its earnings results on Monday, March 17th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.03). Quanterix had a negative net margin of 30.12% and a negative return on equity of 11.74%. The firm had revenue of $35.16 million during the quarter, compared to the consensus estimate of $34.93 million. As a group, research analysts expect that Quanterix will post -0.98 earnings per share for the current year.

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.