What is Leerink Partnrs’ Forecast for Quanterix Q3 Earnings?

Quanterix Co. (NASDAQ:QTRX) – Equities researchers at Leerink Partnrs upped their Q3 2024 earnings estimates for shares of Quanterix in a report issued on Tuesday, November 12th. Leerink Partnrs analyst P. Souda now anticipates that the company will post earnings per share of ($0.19) for the quarter, up from their previous estimate of ($0.20). The consensus estimate for Quanterix’s current full-year earnings is ($0.88) per share. Leerink Partnrs also issued estimates for Quanterix’s Q4 2024 earnings at ($0.20) EPS, Q3 2025 earnings at ($0.20) EPS and Q4 2025 earnings at ($0.21) EPS.

QTRX has been the topic of a number of other reports. TD Cowen lifted their price objective on shares of Quanterix from $13.50 to $16.00 and gave the stock a “hold” rating in a report on Wednesday. Scotiabank cut their price objective on shares of Quanterix from $32.00 to $28.00 and set a “sector outperform” rating on the stock in a report on Monday, August 12th.

Quanterix Trading Down 4.0 %

NASDAQ QTRX opened at $11.44 on Friday. The company has a fifty day simple moving average of $12.95 and a 200 day simple moving average of $13.97. Quanterix has a 12-month low of $10.50 and a 12-month high of $29.70. The company has a market cap of $439.07 million, a P/E ratio of -10.90 and a beta of 1.36.

Institutional Investors Weigh In On Quanterix

A number of hedge funds have recently made changes to their positions in QTRX. Easterly Investment Partners LLC raised its stake in shares of Quanterix by 779.9% during the 2nd quarter. Easterly Investment Partners LLC now owns 692,746 shares of the company’s stock worth $9,151,000 after purchasing an additional 614,012 shares during the period. Portolan Capital Management LLC raised its stake in Quanterix by 31.4% in the 3rd quarter. Portolan Capital Management LLC now owns 2,520,686 shares of the company’s stock valued at $32,668,000 after acquiring an additional 602,656 shares during the period. Farallon Capital Management LLC raised its stake in Quanterix by 156.0% in the 1st quarter. Farallon Capital Management LLC now owns 471,000 shares of the company’s stock valued at $11,097,000 after acquiring an additional 287,000 shares during the period. Assenagon Asset Management S.A. bought a new stake in Quanterix in the 2nd quarter valued at about $3,389,000. Finally, Envestnet Asset Management Inc. raised its stake in Quanterix by 2,261.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 209,731 shares of the company’s stock valued at $2,771,000 after acquiring an additional 200,851 shares during the period. 86.48% of the stock is currently owned by institutional investors.

Insider Transactions at Quanterix

In other Quanterix news, Director David R. Walt bought 47,000 shares of the stock in a transaction dated Tuesday, August 20th. The shares were bought at an average cost of $13.29 per share, for a total transaction of $624,630.00. Following the purchase, the director now directly owns 1,487,342 shares of the company’s stock, valued at approximately $19,766,775.18. This trade represents a 3.26 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.90% 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.