Quanterix Co. (NASDAQ:QTRX) Given Average Rating of “Buy” by Analysts

Shares of Quanterix Co. (NASDAQ:QTRX) have earned a consensus rating of “Buy” from the six research firms that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $30.60.

A number of research firms have issued reports on QTRX. Canaccord Genuity Group decreased their price target on shares of Quanterix from $32.00 to $25.00 and set a “buy” rating for the company in a report on Monday, April 29th. Scotiabank increased their price objective on shares of Quanterix from $30.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 4th.

Hedge Funds Weigh In On Quanterix

Institutional investors have recently bought and sold shares of the company. Strs Ohio increased its position in shares of Quanterix by 5.7% during the fourth quarter. Strs Ohio now owns 18,400 shares of the company’s stock valued at $503,000 after acquiring an additional 1,000 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Quanterix by 3.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,916 shares of the company’s stock valued at $941,000 after purchasing an additional 1,186 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Quanterix by 22.3% in 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 in the last quarter. Valmark Advisers Inc. grew its holdings in shares of Quanterix by 3.5% in the fourth quarter. Valmark Advisers Inc. now owns 69,736 shares of the company’s stock valued at $1,907,000 after purchasing an additional 2,363 shares in the last quarter. Finally, Olympiad Research LP grew its holdings in Quanterix by 20.9% during the 4th quarter. Olympiad Research LP now owns 16,182 shares of the company’s stock worth $442,000 after acquiring an additional 2,799 shares in the last quarter. 86.48% of the stock is owned by hedge funds and other institutional investors.

Quanterix Trading Up 1.6 %

Shares of NASDAQ:QTRX opened at $13.21 on Friday. The company has a market capitalization of $505.55 million, a price-to-earnings ratio of -13.76 and a beta of 1.50. Quanterix has a 12 month low of $11.83 and a 12 month high of $29.70. The firm’s 50-day moving average is $15.81 and its 200 day moving average is $21.29.

Quanterix (NASDAQ:QTRX) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.07. Quanterix had a negative net margin of 28.82% and a negative return on equity of 10.39%. The firm had revenue of $32.07 million during the quarter, compared to analysts’ expectations of $31.72 million. As a group, equities analysts forecast that Quanterix will post -0.86 EPS for the current fiscal year.

Quanterix Company Profile

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.