Quanterix Corporation (NASDAQ:QTRX) Receives $15.60 Average Price Target from Analysts

Shares of Quanterix Corporation (NASDAQ:QTRX - Get Free Report) have been given an average rating of "Moderate Buy" by 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 issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $15.60.

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

Quanterix Price Performance

QTRX traded up $0.18 during trading on Friday, reaching $6.30. 703,741 shares of the company's stock were exchanged, compared to its average volume of 590,843. Quanterix has a 1 year low of $4.05 and a 1 year high of $16.74. The stock has a market capitalization of $244.63 million, a P/E ratio of -4.85 and a beta of 1.06. The company's fifty day simple moving average is $5.46 and its 200-day simple moving average is $7.46.

Quanterix (NASDAQ:QTRX - Get Free Report) last posted its quarterly 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. Quanterix had a negative net margin of 36.82% and a negative return on equity of 15.07%. The company had revenue of $30.33 million during the quarter, compared to analyst estimates of $28.27 million. Equities analysts forecast that Quanterix will post -0.98 EPS for the current year.

Insider Activity at Quanterix

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

Institutional Investors Weigh In On Quanterix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Wyoming acquired a new position in shares of Quanterix during the 1st quarter valued at about $47,000. Resona Asset Management Co. Ltd. purchased a new stake in Quanterix in the 4th quarter valued at about $55,000. Tower Research Capital LLC TRC raised its holdings in Quanterix by 219.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,702 shares of the company's stock valued at $61,000 after buying an additional 3,915 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Quanterix in the 4th quarter valued at about $66,000. Finally, Quantbot Technologies LP raised its holdings in Quanterix by 245.9% in the 1st quarter. Quantbot Technologies LP now owns 11,272 shares of the company's stock valued at $73,000 after buying an additional 8,013 shares during the period. Institutional investors and hedge funds own 86.48% of the company's stock.

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.