Quanterix Corporation (NASDAQ:QTRX) Receives $13.50 Average Price Target from Analysts

Shares of Quanterix Corporation (NASDAQ:QTRX) have been assigned a consensus rating of “Hold” from the five research firms that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $11.75.

Several equities analysts have recently issued reports on the company. Wall Street Zen cut Quanterix from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Canaccord Genuity Group restated a “hold” rating and set a $5.00 target price (down previously from $12.00) on shares of Quanterix in a research note on Monday, August 11th. Leerink Partnrs cut Quanterix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Finally, Leerink Partners reissued a “market perform” rating and issued a $8.00 target price (down previously from $12.00) on shares of Quanterix in a report on Wednesday, April 30th.

Quanterix Price Performance

NASDAQ:QTRX opened at $4.57 on Friday. Quanterix has a 1-year low of $4.05 and a 1-year high of $15.85. The company has a 50-day moving average of $5.90 and a 200 day moving average of $6.25. The firm has a market cap of $212.35 million, a PE ratio of -2.51 and a beta of 1.07.

Quanterix (NASDAQ:QTRX) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.06). Quanterix had a negative return on equity of 18.41% and a negative net margin of 56.04%. The business had revenue of $24.48 million during the quarter, compared to analyst estimates of $29.73 million. Sell-side analysts anticipate that Quanterix will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling

In other Quanterix news, Director David R. Walt bought 131,869 shares of Quanterix stock in a transaction that occurred on Friday, June 6th. The shares were purchased at an average cost of $5.43 per share, for a total transaction of $716,048.67. Following the completion of the transaction, the director owned 1,628,802 shares of the company’s stock, valued at $8,844,394.86. This represents a 8.81% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William P. Donnelly bought 93,113 shares of Quanterix stock in a transaction that occurred on Friday, June 6th. The shares were acquired at an average price of $5.44 per share, for a total transaction of $506,534.72. Following the completion of the transaction, the director directly owned 139,094 shares of the company’s stock, valued at $756,671.36. This trade represents a 202.50% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 463,113 shares of company stock worth $2,625,444. Corporate insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Quanterix

A number of large investors have recently modified their holdings of the company. Ameriprise Financial Inc. raised its holdings in shares of Quanterix by 14.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,236,877 shares of the company’s stock worth $28,175,000 after purchasing an additional 521,639 shares during the period. Portolan Capital Management LLC raised its holdings in shares of Quanterix by 2.7% in the 4th quarter. Portolan Capital Management LLC now owns 2,587,824 shares of the company’s stock worth $27,509,000 after purchasing an additional 67,138 shares during the period. Vanguard Group Inc. raised its holdings in shares of Quanterix by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 2,217,225 shares of the company’s stock worth $23,569,000 after purchasing an additional 19,386 shares during the period. Millennium Management LLC raised its holdings in shares of Quanterix by 6.0% in the 4th quarter. Millennium Management LLC now owns 2,185,101 shares of the company’s stock worth $23,228,000 after purchasing an additional 122,969 shares during the period. Finally, Easterly Investment Partners LLC raised its holdings in shares of Quanterix by 38.8% in the 1st quarter. Easterly Investment Partners LLC now owns 1,325,620 shares of the company’s stock worth $8,630,000 after purchasing an additional 370,625 shares during the period. 86.48% of the stock is currently owned by hedge funds and other institutional investors.

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.