Quanterix (NASDAQ:QTRX) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Quanterix from “sell” to “hold,” while the broader analyst consensus remains “Reduce” with an average price target of $3.00.
• Quanterix shares opened at $3.07, with a market capitalization of approximately $145 million and a 52-week range of $2.15 to $8.77.
• The company reported a quarterly loss of $1.04 per share, missing estimates by $0.63, while revenue of $32.91 million also fell short of the $37.48 million consensus forecast.

Quanterix (NASDAQ:QTRX - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity Group cut their price target on Quanterix from $4.00 to $3.00 and set a "hold" rating on the stock in a report on Monday, August 17th. Weiss Ratings reissued a "sell (e+)" rating on shares of Quanterix in a report on Friday, August 7th. Finally, TD Cowen lowered their target price on Quanterix from $4.00 to $3.00 and set a "hold" rating on the stock in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Quanterix has an average rating of "Reduce" and an average price target of $3.00.

Quanterix Stock Down 1.6%

QTRX stock opened at $3.07 on Friday. The stock has a market cap of $145.18 million, a PE ratio of -1.17 and a beta of 1.04. The firm's 50-day simple moving average is $3.16 and its 200 day simple moving average is $3.48. Quanterix has a fifty-two week low of $2.15 and a fifty-two week high of $8.77.

Quanterix (NASDAQ:QTRX - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.63). Quanterix had a negative net margin of 80.25% and a negative return on equity of 26.09%. The firm had revenue of $32.91 million for the quarter, compared to analyst estimates of $37.48 million.

Institutional Trading of Quanterix

A number of hedge funds and other institutional investors have recently made changes to their positions in QTRX. Integrated Wealth Concepts LLC acquired a new position in shares of Quanterix during the second quarter valued at approximately $31,000. HighTower Advisors LLC bought a new stake in Quanterix during the second quarter worth approximately $59,000. Susquehanna Fundamental Investments LLC acquired a new stake in Quanterix in the second quarter worth approximately $168,000. Bank of America Corp DE acquired a new stake in Quanterix in the second quarter worth approximately $127,000. Finally, Canada Pension Plan Investment Board bought a new position in Quanterix during the 2nd quarter valued at $165,000. 86.48% of the stock is currently owned by institutional investors.

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 biomarkers at concentrations significantly below the capabilities of many conventional immunoassay methods, supporting research into disease biology, diagnosis, treatment development and monitoring.

The company's primary technology, Simoa, is used in its laboratory instruments, assay kits, consumables and software products.

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