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

Shares of Quanterix Co. (NASDAQ:QTRX) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $32.00.

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

Insiders Place Their Bets

In other Quanterix news, Director Laurie J. Olson sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were 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 directly owns 15,238 shares in the company, valued at $371,045.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On Quanterix

Several hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted 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 worth $303,000 after acquiring an additional 2,340 shares during the last quarter. Los Angeles Capital Management LLC lifted 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 worth $476,000 after acquiring an additional 9,764 shares during the last quarter. Parkman Healthcare Partners LLC lifted 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 worth $4,002,000 after acquiring an additional 69,279 shares during the last quarter. Blue Water Life Science Advisors LP acquired a new stake in shares of Quanterix in the fourth quarter valued at approximately $7,879,000. Finally, Superstring Capital Management LP acquired a new stake in shares of Quanterix in the fourth quarter valued at approximately $1,962,000. 86.48% of the stock is currently owned by institutional investors and hedge funds.

Quanterix Trading Up 3.0 %

QTRX stock opened at $16.30 on Tuesday. The stock has a 50-day moving average price of $23.49 and a two-hundred day moving average price of $23.58. The stock has a market cap of $623.48 million, a PE ratio of -18.95 and a beta of 1.30. Quanterix has a 1 year low of $11.39 and a 1 year high of $29.70.

Quanterix (NASDAQ:QTRX) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.05). The company had revenue of $31.55 million during the quarter, compared to the consensus estimate of $27.92 million. Quanterix had a negative net margin of 26.42% and a negative return on equity of 9.15%. On average, analysts forecast that Quanterix will post -1.04 earnings per share for the current fiscal year.

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.