Quanterix Co. (NASDAQ:QTRX) Receives $15.60 Consensus Price Target from Analysts

Shares of Quanterix Co. (NASDAQ:QTRX - Get Free Report) have been given a consensus rating of "Moderate Buy" by the six research firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $15.60.

A number of analysts have weighed in on the stock. Canaccord Genuity Group dropped their target price on shares of Quanterix from $15.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Leerink Partners reissued a "market perform" rating and set a $8.00 target price (down from $12.00) on shares of Quanterix in a report on Wednesday, April 30th. Scotiabank reissued an "outperform" rating on shares of Quanterix in a report on Tuesday, March 25th. Leerink Partnrs cut shares of Quanterix from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Finally, Wall Street Zen cut shares of Quanterix from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

Quanterix Price Performance

QTRX traded up $0.19 during trading on Monday, hitting $5.28. The company had a trading volume of 779,591 shares, compared to its average volume of 573,880. The company has a market cap of $205.02 million, a PE ratio of -4.98 and a beta of 1.12. The business has a 50-day moving average of $5.55 and a 200-day moving average of $8.34. Quanterix has a 1-year low of $4.05 and a 1-year 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 the consensus estimate of ($0.69) by $0.16. The firm had revenue of $30.33 million for the quarter, compared to analysts' expectations of $28.27 million. Quanterix had a negative net margin of 30.12% and a negative return on equity of 11.74%. Research analysts forecast that Quanterix will post -0.98 earnings per share for the current year.

Hedge Funds Weigh In On Quanterix

Several institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. grew its position in shares of Quanterix by 111.3% during the fourth quarter. Ameriprise Financial Inc. now owns 3,205,928 shares of the company's stock worth $34,079,000 after acquiring an additional 1,688,680 shares during the last quarter. Portolan Capital Management LLC grew its position in shares of Quanterix by 2.7% during the fourth quarter. Portolan Capital Management LLC now owns 2,587,824 shares of the company's stock worth $27,509,000 after acquiring an additional 67,138 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Quanterix by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 2,217,225 shares of the company's stock worth $23,569,000 after acquiring an additional 19,386 shares during the last quarter. Millennium Management LLC grew its position in Quanterix by 6.0% in the 4th quarter. Millennium Management LLC now owns 2,185,101 shares of the company's stock valued at $23,228,000 after buying an additional 122,969 shares in the last quarter. Finally, Easterly Investment Partners LLC grew its position in Quanterix by 38.8% in the 1st quarter. Easterly Investment Partners LLC now owns 1,325,620 shares of the company's stock valued at $8,630,000 after buying an additional 370,625 shares in the last quarter. Institutional investors own 86.48% of the company's stock.

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.