Quanterix Corp (QTRX) Receives Average Rating of “Buy” from Analysts

Shares of Quanterix Corp (NASDAQ:QTRX) have earned an average recommendation of “Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $26.50.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research downgraded Quanterix from a “hold” rating to a “sell” rating in a research report on Wednesday, August 22nd. Canaccord Genuity reissued a “buy” rating on shares of Quanterix in a research report on Wednesday, November 7th.

In other Quanterix news, Chairman E Kevin Hrusovsky sold 2,995 shares of the company’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $20.91, for a total transaction of $62,625.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Ernest Orticerio sold 20,000 shares of the company’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $16.82, for a total value of $336,400.00. The disclosure for this sale can be found here. Insiders have sold 43,733 shares of company stock valued at $710,080 over the last 90 days. Corporate insiders own 31.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Quanterix during the first quarter worth $3,439,000. Northern Trust Corp bought a new stake in Quanterix during the first quarter worth $894,000. Acadian Asset Management LLC bought a new stake in Quanterix during the second quarter worth $117,000. Bank of New York Mellon Corp bought a new stake in Quanterix during the second quarter worth $312,000. Finally, Bellevue Group AG lifted its stake in Quanterix by 97.5% during the second quarter. Bellevue Group AG now owns 165,480 shares of the company’s stock worth $2,376,000 after purchasing an additional 81,680 shares during the last quarter. Hedge funds and other institutional investors own 48.48% of the company’s stock.

NASDAQ:QTRX traded down $0.16 during trading hours on Tuesday, reaching $16.17. 83,800 shares of the company were exchanged, compared to its average volume of 99,238. The company has a market capitalization of $372.04 million and a P/E ratio of -1.95. Quanterix has a 1-year low of $13.00 and a 1-year high of $24.81. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.11 and a quick ratio of 3.76.

Quanterix (NASDAQ:QTRX) last issued its quarterly earnings results on Friday, August 10th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.06). The company had revenue of $8.64 million for the quarter, compared to analyst estimates of $7.92 million. Quanterix had a negative return on equity of 52.34% and a negative net margin of 88.71%. On average, sell-side analysts anticipate that Quanterix will post -1.21 EPS for the current fiscal 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.

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Analyst Recommendations for Quanterix (NASDAQ:QTRX)

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