TD Cowen Issues Pessimistic Forecast for Quanterix (NASDAQ:QTRX) Stock Price

Key Points

• TD Cowen cut Quanterix’s price target from $4.00 to $3.00 while maintaining a “hold” rating. The stock has an average analyst rating of “Reduce” and a consensus target price of $3.50.
• Quanterix reported a quarterly loss of $1.04 per share, missing the $0.41 consensus estimate, while revenue of $32.91 million fell short of expectations of $37.46 million.
• Shares recently traded at $2.48, near the company’s 52-week low of $2.15, amid negative profitability metrics including a net margin of -71.86%; institutional investors own 86.48% of the stock.

Quanterix (NASDAQ:QTRX - Get Free Report) had its price target cut by investment analysts at TD Cowen from $4.00 to $3.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "hold" rating on the stock. TD Cowen's price objective would suggest a potential upside of 21.21% from the company's current price.

Several other equities research analysts also recently issued reports on the company. Canaccord Genuity Group dropped their target price on Quanterix from $8.00 to $4.00 and set a "hold" rating on the stock in a research report on Monday, April 20th. Weiss Ratings lowered shares of Quanterix from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen upgraded Quanterix from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $3.50.

Quanterix Price Performance

Shares of QTRX traded up $0.06 during mid-day trading on Tuesday, hitting $2.48. The stock had a trading volume of 808,258 shares, compared to its average volume of 922,140. The firm has a market cap of $116.60 million, a P/E ratio of -1.05 and a beta of 1.07. Quanterix has a 52 week low of $2.15 and a 52 week high of $8.77. The business has a fifty day moving average price of $3.68 and a 200-day moving average price of $4.17.

Quanterix (NASDAQ:QTRX - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.63). The firm had revenue of $32.91 million during the quarter, compared to the consensus estimate of $37.46 million. Quanterix had a negative net margin of 71.86% and a negative return on equity of 23.92%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in QTRX. Allspring Global Investments Holdings LLC boosted its position in shares of Quanterix by 10.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 15,560 shares of the company's stock valued at $100,000 after purchasing an additional 1,457 shares in the last quarter. Deutsche Bank AG lifted its position in Quanterix by 6.5% during the fourth quarter. Deutsche Bank AG now owns 29,906 shares of the company's stock valued at $190,000 after buying an additional 1,817 shares during the period. Intech Investment Management LLC lifted its position in Quanterix by 13.4% during the third quarter. Intech Investment Management LLC now owns 19,161 shares of the company's stock valued at $104,000 after buying an additional 2,268 shares during the period. Jane Street Group LLC boosted its holdings in shares of Quanterix by 4.2% during the 1st 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. Finally, Farther Finance Advisors LLC purchased a new stake in shares of Quanterix in the 4th quarter worth about $26,000. Hedge funds and other institutional investors own 86.48% of the company's stock.

Quanterix Company Profile

Quanterix Corporation is a life sciences and diagnostics company specializing in ultra-sensitive digital immunoassay platforms. Its proprietary Single Molecule Array (Simoa) technology enables researchers to detect and quantify proteins, peptides and nucleic acids at femtomolar concentrations, offering sensitivity that surpasses traditional immunoassay methods. By translating single-molecule detection into routine laboratory workflows, Quanterix aims to accelerate biomarker discovery and the development of novel diagnostics and therapeutics.

The company's core product portfolio includes the Simoa HD-1 and HD-X Analyzers, which automate high-throughput digital immunoassays for quantifying low-abundance biomarkers.

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