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

Shares of Quanterix Corporation (NASDAQ:QTRX - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the six research firms that are presently covering the stock, Marketbeat 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 price target among analysts that have issued ratings on the stock in the last year is $15.60.

Several research firms recently weighed in on QTRX. Wall Street Zen lowered shares of Quanterix from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Canaccord Genuity Group reduced their price target on shares of Quanterix from $15.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Leerink Partners reaffirmed a "market perform" rating and set a $8.00 price objective (down previously from $12.00) on shares of Quanterix in a research note on Wednesday, April 30th. Scotiabank reiterated an "outperform" rating on shares of Quanterix in a report on Tuesday, March 25th. Finally, Leerink Partnrs cut Quanterix from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th.

Insider Activity

In other news, Director William P. Donnelly purchased 93,113 shares of the company's stock in a transaction on Friday, June 6th. The shares were purchased at an average price of $5.44 per share, with a total value of $506,534.72. Following the purchase, the director now directly owns 139,094 shares of the company's stock, valued at $756,671.36. This trade represents a 202.50% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David R. Walt purchased 123,990 shares of the business's stock in a transaction dated Friday, June 13th. The stock was purchased at an average price of $6.14 per share, for a total transaction of $761,298.60. Following the completion of the acquisition, the director now owns 1,866,933 shares of the company's stock, valued at approximately $11,462,968.62. This represents a 7.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 463,113 shares of company stock worth $2,625,444 over the last quarter. 6.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Quanterix

A number of hedge funds and other institutional investors have recently bought and sold shares of QTRX. Ameriprise Financial Inc. boosted its position in Quanterix by 111.3% during the 4th 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 lifted its position in shares of Quanterix by 2.7% in the fourth quarter. Portolan Capital Management LLC now owns 2,587,824 shares of the company's stock worth $27,509,000 after purchasing an additional 67,138 shares in the last quarter. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 19,386 shares during the last quarter. Millennium Management LLC boosted its holdings in Quanterix by 6.0% during the fourth quarter. Millennium Management LLC now owns 2,185,101 shares of the company's stock worth $23,228,000 after purchasing an additional 122,969 shares during the last quarter. Finally, Easterly Investment Partners LLC grew its position in Quanterix by 38.8% in the first quarter. Easterly Investment Partners LLC now owns 1,325,620 shares of the company's stock valued at $8,630,000 after purchasing an additional 370,625 shares in the last quarter. Institutional investors and hedge funds own 86.48% of the company's stock.

Quanterix Stock Up 3.9%

Shares of Quanterix stock opened at $6.38 on Friday. The business has a fifty day simple moving average of $5.43 and a 200 day simple moving average of $7.60. The stock has a market cap of $247.74 million, a PE ratio of -4.91 and a beta of 1.05. Quanterix has a 12 month low of $4.05 and a 12 month high of $16.74.

Quanterix (NASDAQ:QTRX - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 15.07% and a negative net margin of 36.82%. Analysts expect 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.

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