Quanterix Co. (NASDAQ:QTRX) Receives Average Recommendation of "Moderate Buy" from Analysts

Quanterix Co. (NASDAQ:QTRX - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six brokerages that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $15.60.

QTRX has been the topic of a number of research reports. Leerink Partners restated a "market perform" rating and set a $8.00 price target (down previously from $12.00) on shares of Quanterix in a research note on Wednesday, April 30th. Canaccord Genuity Group decreased their target price on Quanterix from $15.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Leerink Partnrs downgraded Quanterix from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Scotiabank reiterated an "outperform" rating on shares of Quanterix in a research note on Tuesday, March 25th. Finally, Wall Street Zen downgraded Quanterix from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.

Institutional Trading of Quanterix

Institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. increased its stake in shares of Quanterix by 111.3% in the fourth quarter. Ameriprise Financial Inc. now owns 3,205,928 shares of the company's stock worth $34,079,000 after purchasing an additional 1,688,680 shares during the period. William Blair Investment Management LLC bought a new position in Quanterix during the fourth quarter valued at about $11,290,000. Invenomic Capital Management LP bought a new position in Quanterix during the first quarter valued at about $5,872,000. Trium Capital LLP bought a new position in Quanterix during the first quarter valued at about $3,642,000. Finally, Nuveen LLC bought a new position in Quanterix during the first quarter valued at about $2,704,000. Institutional investors and hedge funds own 86.48% of the company's stock.

Quanterix Stock Performance

QTRX stock traded down $0.10 during mid-day trading on Monday, reaching $5.18. The company had a trading volume of 215,276 shares, compared to its average volume of 573,685. The company has a market capitalization of $201.29 million, a price-to-earnings ratio of -4.91 and a beta of 1.12. The firm has a fifty day simple moving average of $5.52 and a 200 day simple moving average of $8.32. Quanterix has a fifty-two week low of $4.05 and a fifty-two week high of $19.18.

Quanterix (NASDAQ:QTRX - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.69) by $0.16. Quanterix had a negative return on equity of 11.74% and a negative net margin of 30.12%. The company had revenue of $30.33 million for the quarter, compared to analyst estimates of $28.27 million. As a group, analysts predict that Quanterix will post -0.98 earnings per share for the current 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.