Quanterix (NASDAQ:QTRX) Given New $8.00 Price Target at Canaccord Genuity Group

Quanterix (NASDAQ:QTRX) had its price objective boosted by Canaccord Genuity Group from $5.00 to $8.00 in a report published on Monday, MarketBeat Ratings reports. The firm currently has a hold rating on the stock.

QTRX has been the subject of several other research reports. Wall Street Zen cut shares of Quanterix from a “hold” rating to a “sell” rating in a research report on Sunday. Weiss Ratings restated a “sell (d-)” rating on shares of Quanterix in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $11.33.

Quanterix Stock Performance

Shares of QTRX opened at $6.80 on Monday. The company has a market cap of $317.63 million, a price-to-earnings ratio of -2.92 and a beta of 1.01. The stock has a fifty day moving average price of $6.28 and a two-hundred day moving average price of $5.80. Quanterix has a 52-week low of $4.05 and a 52-week high of $12.41.

Quanterix (NASDAQ:QTRX) last announced its earnings results on Monday, November 10th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.13). Quanterix had a negative return on equity of 21.34% and a negative net margin of 73.47%.The business had revenue of $40.23 million for the quarter, compared to the consensus estimate of $37.85 million. As a group, research analysts predict that Quanterix will post -0.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Quanterix

Institutional investors have recently added to or reduced their stakes in the stock. Williams Jones Wealth Management LLC. raised its holdings in shares of Quanterix by 1.5% in the third quarter. Williams Jones Wealth Management LLC. now owns 686,464 shares of the company’s stock valued at $3,728,000 after purchasing an additional 10,450 shares during the last quarter. PharVision Advisers LLC acquired a new stake in Quanterix during the 3rd quarter valued at $196,000. Quarry LP boosted its position in Quanterix by 277,300.0% during the third quarter. Quarry LP now owns 5,548 shares of the company’s stock worth $30,000 after purchasing an additional 5,546 shares during the period. Numerai GP LLC acquired a new position in shares of Quanterix in the third quarter valued at $478,000. Finally, Millennium Management LLC increased its holdings in shares of Quanterix by 9,880.2% in the third quarter. Millennium Management LLC now owns 1,209,199 shares of the company’s stock valued at $6,566,000 after purchasing an additional 1,197,083 shares during the last quarter. 86.48% of the stock is owned by institutional investors.

Quanterix Company Profile

Quanterix Corporation is a life sciences and diagnostics company specializing in ultra-sensitive digital immunoassay platforms. Its proprietary Single Molecule Array (Simoa) technology enables researchers to detect and quantify proteins, peptides and nucleic acids at femtomolar concentrations, offering sensitivity that surpasses traditional immunoassay methods. By translating single-molecule detection into routine laboratory workflows, Quanterix aims to accelerate biomarker discovery and the development of novel diagnostics and therapeutics.

The company’s core product portfolio includes the Simoa HD-1 and HD-X Analyzers, which automate high-throughput digital immunoassays for quantifying low-abundance biomarkers.