Quanterix (NASDAQ:QTRX) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Quanterix (NASDAQ:QTRX) released its quarterly earnings results on Monday. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.04), FiscalAI reports. Quanterix had a negative return on equity of 26.09% and a negative net margin of 80.25%. The company had revenue of $34.97 million for the quarter, compared to the consensus estimate of $33.85 million.

Quanterix Trading Down 0.3%

Shares of NASDAQ QTRX opened at $2.89 on Monday. The firm has a market capitalization of $136.67 million, a PE ratio of -1.10 and a beta of 1.06. Quanterix has a 1 year low of $2.15 and a 1 year high of $8.77. The firm’s 50-day moving average is $3.00 and its 200-day moving average is $3.80.

Analysts Set New Price Targets

Several research firms have weighed in on QTRX. Wall Street Zen cut shares of Quanterix from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Quanterix in a research report on Wednesday. TD Cowen upped their target price on shares of Quanterix from $3.00 to $3.50 and gave the stock a “hold” rating in a research report on Tuesday, October 13th. Finally, Canaccord Genuity Group decreased their price target on shares of Quanterix from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Monday, August 17th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $3.25.

Quanterix Company Profile

Quanterix Corporation (NASDAQ:QTRX) is a life sciences company that develops ultra-sensitive digital immunoassay technologies for detecting and measuring biomarkers in blood and other biological samples. Its platform is designed to identify proteins and other molecules at very low concentrations, supporting research into disease biology, diagnosis, treatment response and drug development.

The company’s principal technology, Simoa, uses digital detection methods to improve the sensitivity of immunoassays.