Quanterix Co. (NASDAQ:QTRX) Given Consensus Recommendation of “Hold” by Analysts

Shares of Quanterix Co. (NASDAQ:QTRXGet Rating) have been assigned an average recommendation of “Hold” from the seven analysts that are covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $23.60.

QTRX has been the subject of several recent research reports. Cowen downgraded shares of Quanterix from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 9th. SVB Leerink upped their price objective on shares of Quanterix from $12.00 to $15.00 and gave the company a “market perform” rating in a research note on Wednesday, November 9th. Cowen downgraded shares of Quanterix from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $38.00 to $18.00 in a research note on Tuesday, August 9th. The Goldman Sachs Group lowered their price objective on shares of Quanterix from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, November 10th. Finally, Canaccord Genuity Group downgraded shares of Quanterix from a “buy” rating to a “hold” rating and lowered their price objective for the company from $40.00 to $12.00 in a research note on Monday, August 15th.

Quanterix Stock Up 1.1 %

Quanterix stock opened at $12.04 on Wednesday. The company has a market capitalization of $446.14 million, a PE ratio of -4.53 and a beta of 1.32. The firm has a fifty day simple moving average of $10.18 and a two-hundred day simple moving average of $13.32. Quanterix has a twelve month low of $6.31 and a twelve month high of $44.86.

Hedge Funds Weigh In On Quanterix

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royce & Associates LP increased its position in shares of Quanterix by 8.3% during the second quarter. Royce & Associates LP now owns 250,748 shares of the company’s stock valued at $4,060,000 after buying an additional 19,200 shares during the period. Platinum Investment Management Ltd. grew its holdings in Quanterix by 7.4% in the second quarter. Platinum Investment Management Ltd. now owns 639,990 shares of the company’s stock worth $10,361,000 after purchasing an additional 44,055 shares during the period. Clarius Group LLC purchased a new stake in Quanterix in the second quarter worth about $1,005,000. Monarch Partners Asset Management LLC grew its holdings in Quanterix by 153.4% in the first quarter. Monarch Partners Asset Management LLC now owns 120,197 shares of the company’s stock worth $3,509,000 after purchasing an additional 72,767 shares during the period. Finally, Tikvah Management LLC grew its holdings in Quanterix by 26.2% in the first quarter. Tikvah Management LLC now owns 436,119 shares of the company’s stock worth $12,730,000 after purchasing an additional 90,600 shares during the period. Hedge funds and other institutional investors own 91.85% of the company’s stock.

Quanterix Company Profile

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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. It offers HD-X instrument, a sensitive automated multiplex protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection technology in various applications, including direct detection of nucleic acids.

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Analyst Recommendations for Quanterix (NASDAQ:QTRX)

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