Quanterix Co. (NASDAQ:QTRX) Receives $32.00 Consensus Target Price from Brokerages

Shares of Quanterix Co. (NASDAQ:QTRX) have earned an average recommendation of “Buy” from the six analysts that are currently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $32.00.

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

Quanterix Stock Up 0.3 %

NASDAQ:QTRX opened at $15.79 on Tuesday. The stock’s 50-day simple moving average is $23.83 and its 200 day simple moving average is $23.77. Quanterix has a twelve month low of $11.39 and a twelve month high of $29.70. The firm has a market capitalization of $603.97 million, a PE ratio of -18.36 and a beta of 1.30.

Quanterix (NASDAQ:QTRX) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $31.55 million for the quarter, compared to analyst estimates of $27.92 million. On average, analysts anticipate that Quanterix will post -1.04 EPS for the current fiscal year.

Insider Transactions at Quanterix

In other news, Director Laurie J. Olson sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $24.35, for a total transaction of $36,525.00. Following the completion of the transaction, the director now directly owns 15,238 shares in the company, valued at $371,045.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Quanterix

A number of hedge funds have recently made changes to their positions in the stock. US Bancorp DE increased its holdings in Quanterix by 35.6% in the second quarter. US Bancorp DE now owns 1,709 shares of the company’s stock worth $39,000 after purchasing an additional 449 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Quanterix by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 13,899 shares of the company’s stock worth $313,000 after purchasing an additional 483 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in Quanterix by 20.2% in the second quarter. Ameritas Investment Partners Inc. now owns 2,909 shares of the company’s stock worth $66,000 after purchasing an additional 489 shares in the last quarter. Advisor Group Holdings Inc. increased its holdings in Quanterix by 184.6% in the first quarter. Advisor Group Holdings Inc. now owns 885 shares of the company’s stock worth $404,000 after purchasing an additional 574 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Quanterix by 73.9% in 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. 86.48% of the stock is currently owned by institutional investors.

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.