Quanterix Co. (NASDAQ:QTRX) Given Consensus Rating of “Moderate Buy” by Brokerages

Quanterix Co. (NASDAQ:QTRX) has been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $15.60.

Several brokerages have issued reports on QTRX. Scotiabank reissued an “outperform” rating on shares of Quanterix in a research note on Tuesday, March 25th. Canaccord Genuity Group cut their target price on shares of Quanterix from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Leerink Partners reissued a “market perform” rating and set a $8.00 target price (down from $12.00) on shares of Quanterix in a research note on Wednesday, April 30th. Wall Street Zen downgraded shares of Quanterix from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Leerink Partnrs downgraded shares of Quanterix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th.

Institutional Trading of Quanterix

Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Wyoming acquired a new position in shares of Quanterix in the 1st quarter valued at $47,000. Resona Asset Management Co. Ltd. acquired a new position in shares of Quanterix in the 4th quarter valued at $55,000. Tower Research Capital LLC TRC grew its holdings in shares of Quanterix by 219.1% in 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 during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Quanterix in the 4th quarter valued at $66,000. Finally, Quantbot Technologies LP grew its holdings in shares of Quanterix by 245.9% in the 1st quarter. Quantbot Technologies LP now owns 11,272 shares of the company’s stock valued at $73,000 after buying an additional 8,013 shares during the period. Institutional investors and hedge funds own 86.48% of the company’s stock.

Quanterix Trading Up 0.4%

Shares of NASDAQ QTRX opened at $4.85 on Monday. The stock has a 50 day simple moving average of $5.64 and a 200-day simple moving average of $8.44. The company has a market cap of $188.32 million, a PE ratio of -4.58 and a beta of 1.12. Quanterix has a 12-month low of $4.05 and a 12-month high of $19.18.

Quanterix (NASDAQ:QTRX) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.16. Quanterix had a negative return on equity of 11.74% and a negative net margin of 30.12%. The business had revenue of $30.33 million during the quarter, compared to the consensus estimate of $28.27 million. Sell-side analysts forecast that Quanterix will post -0.98 earnings per share for the current fiscal year.

Quanterix Company Profile

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.