Quanterix Corp (QTRX) Given Consensus Recommendation of “Buy” by Analysts
Shares of Quanterix Corp (NASDAQ:QTRX) have earned a consensus recommendation of “Buy” from the six ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $26.50.
Several analysts have recently issued reports on QTRX shares. Zacks Investment Research upgraded shares of Quanterix from a “sell” rating to a “hold” rating in a research note on Tuesday, May 22nd. ValuEngine upgraded shares of Quanterix from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, BTIG Research reiterated a “buy” rating and issued a $26.00 target price on shares of Quanterix in a research note on Sunday, May 13th.
Shares of Quanterix traded up $0.02, hitting $16.55, during trading on Friday, according to Marketbeat.com. The stock had a trading volume of 68,100 shares, compared to its average volume of 106,696. Quanterix has a 12 month low of $15.30 and a 12 month high of $24.81. The firm has a market cap of $368.71 million and a price-to-earnings ratio of -1.99.
In other news, SVP Ernest Orticerio sold 25,000 shares of the company’s stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $17.15, for a total value of $428,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 31.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Flagship Pioneering Inc. bought a new position in Quanterix during the fourth quarter valued at about $43,595,000. Millennium Management LLC bought a new position in Quanterix during the fourth quarter valued at about $11,014,000. Park West Asset Management LLC bought a new position in Quanterix during the fourth quarter valued at about $4,796,000. Royce & Associates LP bought a new position in Quanterix during the fourth quarter valued at about $4,382,000. Finally, BlackRock Inc. bought a new position in Quanterix during the first quarter valued at about $3,439,000. Hedge funds and other institutional investors own 45.71% of the company’s stock.
Quanterix Corporation, a life sciences company, develops and markets ultra-sensitive digital immunoassay platform that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific. It develops Simoa HD-1 Analyzer, a sensitive protein detection platform, which analyzes approximately six biomarkers per test; and Quanterix SR-X, which utilizes the same technology and assay kit as the Simoa HD-1 Analyzer.
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