Quanterix (NASDAQ:QTRX) Given Buy Rating at Canaccord Genuity

Canaccord Genuity reissued their buy rating on shares of Quanterix (NASDAQ:QTRX) in a research note issued to investors on Wednesday morning, AnalystRatings.com reports. Canaccord Genuity currently has a $36.00 target price on the stock.

QTRX has been the topic of several other reports. Zacks Investment Research lowered shares of Quanterix from a buy rating to a hold rating in a report on Wednesday, June 10th. BidaskClub lowered shares of Quanterix from a sell rating to a strong sell rating in a report on Friday, May 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Quanterix presently has an average rating of Hold and a consensus price target of $33.67.

QTRX stock opened at $32.31 on Wednesday. The company has a quick ratio of 6.17, a current ratio of 6.80 and a debt-to-equity ratio of 0.06. Quanterix has a 12 month low of $10.90 and a 12 month high of $35.76. The firm has a market cap of $914.70 million, a P/E ratio of -20.07 and a beta of 1.77. The company’s 50-day moving average price is $27.76 and its two-hundred day moving average price is $24.80.

Quanterix (NASDAQ:QTRX) last released its earnings results on Tuesday, May 5th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.03). Quanterix had a negative net margin of 70.51% and a negative return on equity of 36.97%. The firm had revenue of $15.73 million during the quarter, compared to the consensus estimate of $12.70 million. Equities analysts predict that Quanterix will post -1.67 EPS for the current year.

In other news, SVP Mark T. Roskey sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $24.80, for a total value of $124,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO E Kevin Hrusovsky sold 2,636 shares of the business’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $31.87, for a total transaction of $84,009.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,116 shares of company stock worth $1,657,246. 25.40% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Silvercrest Asset Management Group LLC lifted its position in shares of Quanterix by 16.3% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 274,373 shares of the company’s stock worth $5,040,000 after purchasing an additional 38,357 shares during the period. Frontier Capital Management Co. LLC acquired a new position in shares of Quanterix in the 1st quarter worth approximately $9,693,000. Bank of New York Mellon Corp lifted its position in shares of Quanterix by 21.8% in the 1st quarter. Bank of New York Mellon Corp now owns 251,667 shares of the company’s stock worth $4,623,000 after purchasing an additional 45,090 shares during the period. Citigroup Inc. lifted its position in shares of Quanterix by 18.4% during the 1st quarter. Citigroup Inc. now owns 5,851 shares of the company’s stock valued at $107,000 after acquiring an additional 910 shares during the period. Finally, Alliancebernstein L.P. lifted its position in shares of Quanterix by 20.0% during the 1st quarter. Alliancebernstein L.P. now owns 20,400 shares of the company’s stock valued at $375,000 after acquiring an additional 3,400 shares during the period. Hedge funds and other institutional investors own 69.28% of the company’s stock.

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. The company offers Simoa HD-1 instrument, a sensitive automated multiplex protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection technology in various applications, including direct detection of nucleic acids.

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