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

Quanterix Co. (NASDAQ:QTRX - Get Free Report) has received an average rating of "Moderate Buy" from the six brokerages that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $16.20.

QTRX has been the subject of several research reports. Canaccord Genuity Group decreased their price target on shares of Quanterix from $20.00 to $15.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Leerink Partnrs downgraded Quanterix from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. Scotiabank reaffirmed an "outperform" rating on shares of Quanterix in a report on Tuesday, March 25th. Finally, Leerink Partners reissued a "market perform" rating and issued a $8.00 price target (down previously from $12.00) on shares of Quanterix in a report on Wednesday.

Hedge Funds Weigh In On Quanterix

Several hedge funds and other institutional investors have recently made changes to their positions in QTRX. Bank of New York Mellon Corp raised its stake in Quanterix by 1.8% during the 4th quarter. Bank of New York Mellon Corp now owns 108,186 shares of the company's stock valued at $1,150,000 after acquiring an additional 1,963 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Quanterix by 219.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,702 shares of the company's stock valued at $61,000 after purchasing an additional 3,915 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Quanterix by 25.8% in the fourth quarter. Hsbc Holdings PLC now owns 19,371 shares of the company's stock worth $205,000 after purchasing an additional 3,974 shares during the period. Canada Pension Plan Investment Board grew its position in Quanterix by 64.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 10,200 shares of the company's stock valued at $108,000 after buying an additional 4,000 shares in the last quarter. Finally, MetLife Investment Management LLC increased its stake in Quanterix by 21.9% during the 4th quarter. MetLife Investment Management LLC now owns 23,983 shares of the company's stock valued at $255,000 after buying an additional 4,303 shares during the period. 86.48% of the stock is currently owned by institutional investors and hedge funds.

Quanterix Trading Up 4.2 %

NASDAQ QTRX traded up $0.24 during mid-day trading on Thursday, reaching $6.01. 477,565 shares of the company's stock traded hands, compared to its average volume of 553,056. The company has a fifty day simple moving average of $6.35 and a 200-day simple moving average of $9.32. Quanterix has a 1-year low of $4.67 and a 1-year high of $19.18. The company has a market cap of $233.12 million, a price-to-earnings ratio of -5.67 and a beta of 1.12.

Quanterix (NASDAQ:QTRX - Get Free Report) last announced its quarterly earnings data on Monday, March 17th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.03). Quanterix had a negative net margin of 30.12% and a negative return on equity of 11.74%. The firm had revenue of $35.16 million during the quarter, compared to the consensus estimate of $34.93 million. Equities research analysts forecast that Quanterix will post -0.98 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.