Brokerages Set Quanterix Co. (NASDAQ:QTRX) Target Price at $15.60

Quanterix Co. (NASDAQ:QTRX - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the six brokerages that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $15.60.

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

Quanterix Price Performance

Shares of QTRX stock traded down $0.07 during midday trading on Monday, hitting $5.17. The company had a trading volume of 27,000 shares, compared to its average volume of 779,954. Quanterix has a 52-week low of $4.05 and a 52-week high of $19.17. The stock has a market cap of $200.59 million, a price-to-earnings ratio of -4.87 and a beta of 1.12. The company's 50 day simple moving average is $5.48 and its 200 day simple moving average is $8.25.

Quanterix (NASDAQ:QTRX - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.53) earnings per share 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 firm had revenue of $30.33 million for the quarter, compared to the consensus estimate of $28.27 million. Analysts anticipate that Quanterix will post -0.98 EPS for the current year.

Hedge Funds Weigh In On Quanterix

Institutional investors have recently added to or reduced their stakes in the business. Resona Asset Management Co. Ltd. acquired a new position in Quanterix in the fourth quarter valued at $55,000. Tower Research Capital LLC TRC increased its stake in Quanterix by 219.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,702 shares of the company's stock worth $61,000 after acquiring an additional 3,915 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Quanterix during the fourth quarter worth about $66,000. State of Wyoming acquired a new stake in Quanterix during the first quarter worth about $47,000. Finally, ProShare Advisors LLC acquired a new stake in Quanterix during the fourth quarter worth about $108,000. 86.48% of the stock is currently owned by institutional investors and hedge funds.

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.