Quanterix (NASDAQ:QTRX) Announces Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Quanterix (NASDAQ:QTRX - Get Free Report) issued its quarterly earnings results on Monday. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.16, Zacks reports. Quanterix had a negative net margin of 30.12% and a negative return on equity of 11.74%. The company had revenue of $30.33 million during the quarter, compared to analyst estimates of $28.27 million. Quanterix updated its FY 2025 guidance to EPS.

Quanterix Stock Performance

QTRX traded up $0.29 during midday trading on Friday, hitting $4.79. The stock had a trading volume of 734,544 shares, compared to its average volume of 566,619. Quanterix has a 1 year low of $4.05 and a 1 year high of $19.18. The business has a fifty day moving average of $5.88 and a 200 day moving average of $8.80. The company has a market cap of $185.99 million, a P/E ratio of -4.52 and a beta of 1.12.

Institutional Trading of Quanterix

Hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its holdings in Quanterix by 20.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 349,696 shares of the company's stock valued at $2,277,000 after buying an additional 59,655 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Quanterix by 204.4% during the first quarter. AQR Capital Management LLC now owns 98,990 shares of the company's stock valued at $644,000 after buying an additional 66,470 shares during the period. Finally, Royal Bank of Canada raised its stake in Quanterix by 26.3% in the first quarter. Royal Bank of Canada now owns 170,745 shares of the company's stock worth $1,112,000 after buying an additional 35,509 shares in the last quarter. 86.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Leerink Partnrs cut Quanterix from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Canaccord Genuity Group dropped their price target on shares of Quanterix from $15.00 to $12.00 and set a "buy" rating on the stock in a research note on Tuesday. Leerink Partners reaffirmed a "market perform" rating and set a $8.00 target price (down previously from $12.00) on shares of Quanterix in a report on Wednesday, April 30th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Quanterix in a report on Tuesday, March 25th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $15.60.

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.