Quanterix Co. (NASDAQ:QTRX) Given Consensus Rating of "Moderate Buy" by Analysts

Quanterix Co. (NASDAQ:QTRX - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six analysts that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $16.20.

Several equities analysts recently issued reports on QTRX shares. Scotiabank restated an "outperform" rating on shares of Quanterix in a research note on Tuesday, March 25th. Leerink Partners reiterated a "market perform" rating and issued a $8.00 price target (down from $12.00) on shares of Quanterix in a research report on Wednesday, April 30th. Leerink Partnrs lowered Quanterix from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, Canaccord Genuity Group dropped their price target on shares of Quanterix from $20.00 to $15.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th.

Hedge Funds Weigh In On Quanterix

A number of hedge funds and other institutional investors have recently made changes to their positions in QTRX. JPMorgan Chase & Co. boosted its position in shares of Quanterix by 23.9% during the 4th quarter. JPMorgan Chase & Co. now owns 270,054 shares of the company's stock worth $2,871,000 after purchasing an additional 52,097 shares in the last quarter. Graypoint LLC purchased a new stake in Quanterix during the 4th quarter worth about $691,000. Geode Capital Management LLC grew its holdings in Quanterix by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 858,667 shares of the company's stock valued at $11,131,000 after buying an additional 18,231 shares in the last quarter. Barclays PLC increased its holdings in Quanterix by 42.3% during the 3rd quarter. Barclays PLC now owns 146,248 shares of the company's stock worth $1,896,000 after acquiring an additional 43,447 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Quanterix by 22.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 342,264 shares of the company's stock worth $3,638,000 after purchasing an additional 62,757 shares during the period. 86.48% of the stock is owned by institutional investors and hedge funds.

Quanterix Price Performance

Shares of NASDAQ:QTRX traded down $0.39 during trading on Thursday, hitting $5.42. 223,938 shares of the company were exchanged, compared to its average volume of 551,220. The firm's 50 day moving average price is $6.31 and its 200-day moving average price is $9.25. The stock has a market capitalization of $210.24 million, a P/E ratio of -5.10 and a beta of 1.12. Quanterix has a 12-month low of $4.67 and a 12-month high of $19.18.

Quanterix (NASDAQ:QTRX - Get Free Report) last issued its quarterly earnings data on Monday, March 17th. The company reported ($0.30) earnings per share for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.03). The business had revenue of $35.16 million for the quarter, compared to analysts' expectations of $34.93 million. Quanterix had a negative return on equity of 11.74% and a negative net margin of 30.12%. As a group, equities research analysts anticipate that Quanterix will post -0.98 EPS for the current year.

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.