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

Quanterix Co. (NASDAQ:QTRX - Get Free Report) has earned a consensus recommendation of "Buy" from the six ratings firms that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $32.00.

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

Insider Buying and Selling at Quanterix

In other news, Director Laurie J. Olson sold 1,500 shares of the business's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $24.35, for a total value of $36,525.00. Following the transaction, the director now owns 15,238 shares of the company's stock, valued at $371,045.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 8.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. grew its holdings in Quanterix by 184.6% during the first quarter. Advisor Group Holdings Inc. now owns 885 shares of the company's stock worth $404,000 after acquiring an additional 574 shares during the period. US Bancorp DE grew its holdings in Quanterix by 35.6% during the second quarter. US Bancorp DE now owns 1,709 shares of the company's stock worth $39,000 after acquiring an additional 449 shares during the period. PNC Financial Services Group Inc. grew 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 acquiring an additional 784 shares during the period. Lazard Asset Management LLC acquired a new position in Quanterix during the second quarter worth $47,000. Finally, Robeco Institutional Asset Management B.V. acquired a new position in Quanterix during the third quarter worth $67,000. Institutional investors and hedge funds own 86.48% of the company's stock.

Quanterix Price Performance

Shares of Quanterix stock traded down $1.21 on Tuesday, reaching $15.94. 699,435 shares of the company were exchanged, compared to its average volume of 344,035. Quanterix has a 1-year low of $11.39 and a 1-year high of $29.70. The company has a market cap of $606.68 million, a P/E ratio of -18.53 and a beta of 1.30. The stock's 50 day moving average price is $24.16 and its 200-day moving average price is $23.88.

Quanterix (NASDAQ:QTRX - Get Free Report) last announced its quarterly earnings data 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 return on equity of 9.15% and a negative net margin of 26.42%. The company had revenue of $31.55 million for the quarter, compared to analyst estimates of $27.92 million. On average, research analysts predict that Quanterix will post -1.04 earnings per share for the current fiscal year.

Quanterix Company Profile

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.