Quanterix (NASDAQ:QTRX) Stock Price Expected to Rise, TD Cowen Analyst Says

Key Points

• TD Cowen raised its price target on Quanterix from $3.50 to $4.00, implying 18.2% upside, but maintained a “hold” rating.
• Analyst sentiment is cautious overall: MarketBeat reports a consensus “Reduce” rating and a $3.50 average price target, with two holds and one sell.
• Quanterix’s latest quarterly results were mixed: EPS of -$0.46 missed estimates of -$0.42, while revenue of $34.97 million topped the $33.85 million consensus.

Quanterix (NASDAQ:QTRX - Get Free Report) had its price objective hoisted by investment analysts at TD Cowen from $3.50 to $4.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a "hold" rating on the stock. TD Cowen's price target would indicate a potential upside of 18.20% from the company's previous close.

Several other equities analysts also recently commented on the stock. Wall Street Zen cut shares of Quanterix from a "hold" rating to a "sell" rating in a research note on Saturday. Weiss Ratings restated a "sell (e+)" rating on shares of Quanterix in a report on Wednesday, November 4th. Finally, Canaccord Genuity Group dropped their price target on Quanterix from $4.00 to $3.00 and set a "hold" rating on the stock in a research note on Monday, August 17th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average target price of $3.50.

Quanterix Trading Up 0.1%

QTRX stock traded up $0.00 during trading hours on Tuesday, hitting $3.38. 361,960 shares of the stock were exchanged, compared to its average volume of 857,251. The company has a 50-day simple moving average of $3.01 and a two-hundred day simple moving average of $3.78. Quanterix has a 12 month low of $2.15 and a 12 month high of $8.77. The firm has a market capitalization of $160.03 million, a P/E ratio of -1.29 and a beta of 1.06.

Quanterix (NASDAQ:QTRX - Get Free Report) last posted its quarterly earnings data on Monday, November 9th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.04). The business had revenue of $34.97 million during the quarter, compared to the consensus estimate of $33.85 million. Quanterix had a negative net margin of 80.25% and a negative return on equity of 26.09%.

Institutional Investors Weigh In On Quanterix

Several institutional investors and hedge funds have recently added to or reduced their stakes in QTRX. Integrated Wealth Concepts LLC purchased a new position in Quanterix in the second quarter worth $31,000. Pinnacle Wealth Planning Services Inc. boosted its stake in Quanterix by 461.4% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 10,099 shares of the company's stock valued at $37,000 after acquiring an additional 8,300 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of Quanterix during the 2nd quarter valued at approximately $59,000. The Manufacturers Life Insurance Company bought a new position in shares of Quanterix during the 2nd quarter valued at approximately $60,000. Finally, Bank of America Corp DE bought a new position in shares of Quanterix during the 2nd quarter valued at approximately $127,000. Hedge funds and other institutional investors own 86.48% of the company's stock.

About Quanterix

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.

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