Quanterix Corp (QTRX) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Quanterix Corp (NASDAQ:QTRX) have been assigned an average recommendation of “Buy” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $26.50.

Several research firms have recently issued reports on QTRX. Zacks Investment Research downgraded shares of Quanterix from a “hold” rating to a “sell” rating in a research note on Wednesday, August 22nd. ValuEngine raised shares of Quanterix from a “hold” rating to a “buy” rating in a research note on Monday, June 11th.

In other news, Chairman E Kevin Hrusovsky sold 17,909 shares of the firm’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $14.53, for a total transaction of $260,217.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 31.60% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System bought a new position in Quanterix during the first quarter worth $129,000. Acadian Asset Management LLC bought a new position in Quanterix during the second quarter worth $117,000. First Republic Investment Management Inc. bought a new position in Quanterix during the second quarter worth $235,000. Bank of New York Mellon Corp bought a new position in Quanterix during the second quarter worth $312,000. Finally, Schwab Charles Investment Management Inc. bought a new position in Quanterix during the first quarter worth $374,000. 49.14% of the stock is owned by institutional investors and hedge funds.

Shares of QTRX stock traded down $0.83 during trading hours on Monday, hitting $19.32. 564,134 shares of the company’s stock traded hands, compared to its average volume of 108,649. The company has a market capitalization of $445.31 million and a P/E ratio of -2.33. Quanterix has a 12 month low of $13.00 and a 12 month high of $24.81.

Quanterix (NASDAQ:QTRX) last released its quarterly earnings results on Friday, August 10th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.06). The firm had revenue of $8.64 million for the quarter, compared to analysts’ expectations of $7.92 million. sell-side analysts expect that Quanterix will post -1.2 earnings per share for the current year.

Quanterix Company Profile

Quanterix Corporation, a life sciences company, develops and markets ultra-sensitive digital immunoassay platform that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific. It develops Simoa HD-1 Analyzer, a sensitive protein detection platform, which analyzes approximately six biomarkers per test; and Quanterix SR-X, which utilizes the same technology and assay kit as the Simoa HD-1 Analyzer.

Recommended Story: Understanding Compound Annual Growth Rate (CAGR)

Receive News & Ratings for Quanterix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanterix and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply