Quanterix Corporation (NASDAQ:QTRX) Receives $15.60 Average PT from Brokerages

Shares of Quanterix Corporation (NASDAQ:QTRX) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $15.60.

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

Quanterix Trading Down 6.3%

NASDAQ QTRX opened at $5.90 on Friday. The company has a market capitalization of $229.10 million, a PE ratio of -4.54 and a beta of 1.05. The stock has a 50-day simple moving average of $5.47 and a 200 day simple moving average of $7.45. Quanterix has a 12 month low of $4.05 and a 12 month high of $16.74.

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

Insider Transactions at Quanterix

In other Quanterix news, Director David R. Walt bought 78,131 shares of Quanterix stock in a transaction on Monday, June 9th. The shares were purchased at an average price of $5.34 per share, with a total value of $417,219.54. Following the acquisition, the director now owns 1,706,933 shares in the company, valued at $9,115,022.22. This trade represents a 4.80% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William P. Donnelly bought 93,113 shares of Quanterix stock in a transaction on Friday, June 6th. The stock was acquired at an average cost of $5.44 per share, for a total transaction of $506,534.72. Following the acquisition, the director now owns 139,094 shares in the company, valued at approximately $756,671.36. This represents a 202.50% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 463,113 shares of company stock worth $2,625,444. Company insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Quanterix

Several hedge funds have recently modified their holdings of the company. Ameriprise Financial Inc. raised 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 purchasing an additional 1,688,680 shares during the last quarter. Portolan Capital Management LLC raised its position in Quanterix by 2.7% during the 4th 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 during the last quarter. Vanguard Group Inc. raised its position in Quanterix by 0.9% during the 4th 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 raised its position in Quanterix by 6.0% during the 4th 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 raised its position in Quanterix by 38.8% during the 1st quarter. Easterly Investment Partners LLC now owns 1,325,620 shares of the company’s stock worth $8,630,000 after purchasing an additional 370,625 shares during the last quarter. Institutional investors and hedge funds own 86.48% of the company’s stock.

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.