Brokerages Set Quanterix Co. (NASDAQ:QTRX) Target Price at $32.00

Shares of Quanterix Co. (NASDAQ:QTRX) have received a consensus recommendation of “Buy” from the six brokerages that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $32.00.

Separately, Scotiabank lifted their price target on Quanterix from $30.00 to $32.00 and gave the company a “sector outperform” rating in a report on Monday, March 4th.

Quanterix Stock Up 3.0 %

Shares of NASDAQ QTRX opened at $16.30 on Tuesday. The stock has a market capitalization of $623.48 million, a price-to-earnings ratio of -18.95 and a beta of 1.30. The stock’s fifty day simple moving average is $23.49 and its 200 day simple moving average is $23.58. Quanterix has a 52-week low of $11.39 and a 52-week high of $29.70.

Quanterix (NASDAQ:QTRX) last issued its earnings results on Thursday, February 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.05). The company had revenue of $31.55 million during the quarter, compared to analyst estimates of $27.92 million. Quanterix had a negative return on equity of 9.15% and a negative net margin of 26.42%. As a group, analysts anticipate that Quanterix will post -1.04 earnings per share for the current year.

Insider Activity

In related news, Director Laurie J. Olson sold 1,500 shares of Quanterix stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $24.35, for a total transaction of $36,525.00. Following the completion of the sale, the director now owns 15,238 shares of the company’s stock, valued at $371,045.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Quanterix

A number of institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its position in Quanterix by 22.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,844 shares of the company’s stock valued at $303,000 after purchasing an additional 2,340 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in Quanterix by 93.6% during the first quarter. Los Angeles Capital Management LLC now owns 20,191 shares of the company’s stock valued at $476,000 after purchasing an additional 9,764 shares during the last quarter. Parkman Healthcare Partners LLC boosted its position in Quanterix by 89.9% during the fourth quarter. Parkman Healthcare Partners LLC now owns 146,366 shares of the company’s stock valued at $4,002,000 after purchasing an additional 69,279 shares during the last quarter. Blue Water Life Science Advisors LP acquired a new stake in Quanterix during the fourth quarter valued at $7,879,000. Finally, Superstring Capital Management LP acquired a new stake in Quanterix during the fourth quarter valued at $1,962,000. 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.