Brokerages Set Quanterix Co. (NASDAQ:QTRX) Price Target at $32.00

Quanterix Co. (NASDAQ:QTRX) has been given a consensus recommendation of “Buy” by the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $32.00.

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

Insider Activity at Quanterix

In related 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 directly owns 15,238 shares in the company, valued at approximately $371,045.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 6.80% of the stock is currently owned by insiders.

Institutional Trading of Quanterix

A number of hedge funds and other institutional investors have recently made changes to their positions in QTRX. Lord Abbett & CO. LLC bought a new stake in shares of Quanterix during the 3rd quarter worth about $27,744,000. Deutsche Bank AG raised its position in shares of Quanterix by 6,788.3% during the 4th quarter. Deutsche Bank AG now owns 1,025,595 shares of the company’s stock worth $14,204,000 after buying an additional 1,010,706 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Quanterix by 206.0% during the 4th quarter. Point72 Asset Management L.P. now owns 1,090,826 shares of the company’s stock worth $15,108,000 after buying an additional 734,306 shares in the last quarter. Portolan Capital Management LLC raised its position in shares of Quanterix by 84.0% during the 2nd quarter. Portolan Capital Management LLC now owns 1,416,623 shares of the company’s stock worth $31,945,000 after buying an additional 646,884 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Quanterix by 73.3% during the 1st quarter. Invesco Ltd. now owns 1,097,126 shares of the company’s stock worth $32,026,000 after buying an additional 464,139 shares in the last quarter. 86.48% of the stock is currently owned by institutional investors.

Quanterix Stock Performance

NASDAQ QTRX opened at $23.56 on Friday. Quanterix has a one year low of $10.30 and a one year high of $29.70. The company has a 50-day simple moving average of $24.81 and a 200-day simple moving average of $24.38. The firm has a market capitalization of $896.69 million, a PE ratio of -27.40 and a beta of 1.31.

Quanterix (NASDAQ:QTRX) last posted 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). Quanterix had a negative net margin of 26.42% and a negative return on equity of 9.15%. The business had revenue of $31.55 million during the quarter, compared to analyst estimates of $27.92 million. Equities analysts forecast that Quanterix will post -1.04 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.