Quanterix (NASDAQ:QTRX) Receives Buy Rating from SVB Leerink

SVB Leerink reissued their buy rating on shares of Quanterix (NASDAQ:QTRX) in a research note released on Thursday morning, PriceTargets.com reports.

Several other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Quanterix from a hold rating to a sell rating in a research note on Wednesday, May 19th. The Goldman Sachs Group started coverage on Quanterix in a research note on Friday, June 4th. They issued a sell rating and a $53.00 price objective on the stock. Finally, Canaccord Genuity upped their price objective on Quanterix from $86.00 to $90.00 and gave the company a buy rating in a research note on Wednesday, March 3rd. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $63.25.

Shares of QTRX opened at $67.17 on Thursday. Quanterix has a 12-month low of $24.22 and a 12-month high of $92.57. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of -70.70 and a beta of 1.53. The firm’s 50-day moving average price is $56.36.

Quanterix (NASDAQ:QTRX) last released its quarterly earnings data on Wednesday, May 5th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.03. Quanterix had a negative return on equity of 11.92% and a negative net margin of 30.37%. As a group, equities analysts expect that Quanterix will post -1.22 earnings per share for the current year.

In other news, CEO E Kevin Hrusovsky sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 13th. The stock was sold at an average price of $46.30, for a total value of $231,500.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP David C. Duffy sold 1,667 shares of the business’s stock in a transaction that occurred on Friday, March 19th. The stock was sold at an average price of $58.36, for a total value of $97,286.12. The disclosure for this sale can be found here. Insiders sold a total of 56,852 shares of company stock worth $3,225,455 over the last three months. 15.40% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of QTRX. Lord Abbett & CO. LLC lifted its holdings in Quanterix by 273.7% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,300,057 shares of the company’s stock worth $76,014,000 after buying an additional 952,141 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Quanterix by 63.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,103,054 shares of the company’s stock worth $122,966,000 after buying an additional 817,697 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Quanterix by 1,135.6% during the 1st quarter. Victory Capital Management Inc. now owns 703,045 shares of the company’s stock worth $41,107,000 after buying an additional 646,145 shares in the last quarter. Baillie Gifford & Co. acquired a new position in Quanterix during the 1st quarter worth $30,054,000. Finally, Goldman Sachs Group Inc. lifted its holdings in Quanterix by 1,030.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 512,312 shares of the company’s stock worth $29,955,000 after buying an additional 466,977 shares in the last quarter. 77.50% of the stock is currently owned by hedge funds and other institutional investors.

About Quanterix

Quanterix Corporation, a life sciences company, develops and markets 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 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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