Quanterix (NASDAQ:QTRX) Upgraded to Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Quanterix (NASDAQ:QTRX – Get Rating) from a neutral rating to a buy rating in a research note issued to investors on Tuesday morning, The Fly reports. The Goldman Sachs Group currently has $27.00 target price on the stock, up from their previous target price of $13.00.

Quanterix Price Performance

Shares of QTRX opened at $21.00 on Tuesday. Quanterix has a 1-year low of $6.31 and a 1-year high of $23.44. The firm has a market capitalization of $785.61 million, a price-to-earnings ratio of -9.21 and a beta of 1.34. The company has a 50-day moving average of $13.76 and a 200 day moving average of $13.20.

Quanterix (NASDAQ:QTRX – Get Rating) last issued its quarterly earnings results on Monday, March 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.03. The business had revenue of $25.82 million for the quarter, compared to analyst estimates of $26.16 million. Quanterix had a negative net margin of 81.08% and a negative return on equity of 17.22%. During the same quarter in the prior year, the business posted ($0.55) EPS. On average, equities analysts anticipate that Quanterix will post -1.19 earnings per share for the current fiscal year.

Institutional Trading of Quanterix

A number of hedge funds have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. lifted its holdings in Quanterix by 184.6% during the first quarter. Advisor Group Holdings Inc. now owns 885 shares of the company’s stock valued at $404,000 after purchasing an additional 574 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Quanterix by 1.2% in the first quarter. JPMorgan Chase & Co. now owns 75,228 shares of the company’s stock worth $2,196,000 after acquiring an additional 906 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Quanterix by 73.9% during the first quarter. PNC Financial Services Group Inc. now owns 1,845 shares of the company’s stock worth $53,000 after purchasing an additional 784 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Quanterix by 58.5% in the 1st quarter. MetLife Investment Management LLC now owns 17,799 shares of the company’s stock valued at $520,000 after acquiring an additional 6,569 shares during the period. Finally, Panagora Asset Management Inc. increased its stake in Quanterix by 6.7% in the 1st quarter. Panagora Asset Management Inc. now owns 44,750 shares of the company’s stock valued at $1,306,000 after buying an additional 2,793 shares during the period. 80.60% of the stock is owned by hedge funds and other institutional investors.

About Quanterix

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Quanterix Corp. engages in the development of ultra-sensitive digital immunoassay platform that advances precision health for life sciences research and diagnostics. Its products and services include Simoa Assay Kits, HD-X analyzer, SR-X Biomarker Detection System, SP-X Imaging and Analysis System, 2470 Arrayer, Simoa Accelerator Laboratory, Uman NF-Light, and Homebrew -Custom Assay Development.