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

Quanterix Corporation (NASDAQ:QTRX - Get Free Report) has received a consensus recommendation of "Hold" from the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $13.50.

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

Quanterix Stock Performance

Shares of NASDAQ QTRX traded down $0.08 during midday trading on Tuesday, reaching $5.43. 249,571 shares of the company's stock were exchanged, compared to its average volume of 613,082. Quanterix has a 52-week low of $4.05 and a 52-week high of $16.01. The stock has a market capitalization of $271.23 million, a PE ratio of -4.18 and a beta of 1.13. The business's fifty day moving average price is $5.73 and its two-hundred day moving average price is $6.92.

Quanterix (NASDAQ:QTRX - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.53) EPS for the quarter, topping analysts' consensus estimates of ($0.69) by $0.16. The business had revenue of $30.33 million during the quarter, compared to the consensus estimate of $28.27 million. Quanterix had a negative return on equity of 15.07% and a negative net margin of 36.82%. Analysts predict that Quanterix will post -0.98 earnings per share for the current fiscal year.

Insider Activity at Quanterix

In other news, Director William P. Donnelly bought 93,113 shares of the company's stock in a transaction that occurred 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 completion of the acquisition, the director directly owned 139,094 shares in the company, valued at approximately $756,671.36. This trade represents a 202.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David R. Walt bought 123,990 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were purchased at an average cost of $6.14 per share, for a total transaction of $761,298.60. Following the acquisition, the director owned 1,866,933 shares of the company's stock, valued at $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. In the last three months, insiders have purchased 463,113 shares of company stock worth $2,625,444. 6.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its holdings in shares of Quanterix by 1.8% in the fourth quarter. Bank of New York Mellon Corp now owns 108,186 shares of the company's stock valued at $1,150,000 after buying an additional 1,963 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Quanterix by 4.2% in the first quarter. Jane Street Group LLC now owns 58,313 shares of the company's stock valued at $380,000 after buying an additional 2,366 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings 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 valued at $61,000 after buying an additional 3,915 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Quanterix by 25.8% in the fourth quarter. Hsbc Holdings PLC now owns 19,371 shares of the company's stock valued at $205,000 after buying an additional 3,974 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Quanterix by 64.5% in the fourth 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. Institutional investors 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.