Brokerages Set Quanterix Corporation (NASDAQ:QTRX) Price Target at $13.50

Key Points

• Quanterix Corporation (NASDAQ:QTRX) has received a consensus rating of "Hold" from five research firms, with an average price target of $13.50.
• Insider activity includes significant stock purchases, with Director William P. Donnelly acquiring 93,113 shares at an average price of $5.44 per share.
• The company's recent earnings report showed an EPS of ($0.47), missing estimates, and revenue of $24.48 million, below the consensus estimate of $29.73 million.

Quanterix Corporation (NASDAQ:QTRX - Get Free Report) has received a consensus rating of "Hold" from the five analysts that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $11.75.

Several brokerages have recently issued reports on QTRX. Leerink Partnrs downgraded shares of Quanterix from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Canaccord Genuity Group reiterated a "hold" rating and issued a $5.00 target price (down previously from $12.00) on shares of Quanterix in a research note on Monday. Leerink Partners reiterated a "market perform" rating and issued a $8.00 target price (down previously from $12.00) on shares of Quanterix in a research note 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.

Insider Activity at Quanterix

In other Quanterix news, Director David R. Walt bought 131,869 shares of Quanterix stock in a transaction on Friday, June 6th. The stock was acquired at an average cost of $5.43 per share, with a total value of $716,048.67. Following the completion of the acquisition, the director owned 1,628,802 shares in the company, valued at approximately $8,844,394.86. This represents a 8.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William P. Donnelly bought 93,113 shares of Quanterix stock in a transaction on Friday, June 6th. The shares were acquired at an average cost of $5.44 per share, with a total value of $506,534.72. Following the completion of the acquisition, the director owned 139,094 shares of the company's stock, valued at $756,671.36. The trade was a 202.50% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 463,113 shares of company stock valued at $2,625,444 over the last three months. 6.90% of the stock is owned by corporate insiders.

Institutional Trading of Quanterix

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

Quanterix Price Performance

NASDAQ:QTRX traded up $0.24 during mid-day trading on Friday, hitting $4.82. 628,832 shares of the company's stock were exchanged, compared to its average volume of 783,121. Quanterix has a one year low of $4.05 and a one year high of $15.85. The business has a fifty day moving average price of $5.96 and a 200 day moving average price of $6.34. The company has a market cap of $223.75 million, a PE ratio of -2.65 and a beta of 1.07.

Quanterix (NASDAQ:QTRX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.06). Quanterix had a negative return on equity of 17.90% and a negative net margin of 56.04%. The business had revenue of $24.48 million for the quarter, compared to the consensus estimate of $29.73 million. On average, equities analysts forecast that Quanterix will post -0.98 EPS for the current fiscal 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.