Quanterix Co. (NASDAQ:QTRX) Given Consensus Recommendation of “Buy” by Brokerages

Quanterix Co. (NASDAQ:QTRX) has been assigned a consensus recommendation of “Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $30.60.

QTRX has been the subject of a number of research reports. Scotiabank increased their target price on shares of Quanterix from $30.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 4th. Canaccord Genuity Group lowered their target price on shares of Quanterix from $32.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, April 29th.

Quanterix Stock Performance

Shares of NASDAQ:QTRX opened at $13.21 on Friday. The firm has a market cap of $505.55 million, a P/E ratio of -13.76 and a beta of 1.50. Quanterix has a 52-week low of $11.83 and a 52-week high of $29.70. The business’s 50 day simple moving average is $15.81 and its two-hundred day simple moving average is $21.29.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in QTRX. Lord Abbett & CO. LLC boosted its holdings in shares of Quanterix by 22.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,757,153 shares of the company’s stock valued at $41,398,000 after buying an additional 326,876 shares in the last quarter. Blue Water Life Science Advisors LP purchased a new stake in shares of Quanterix during the 4th quarter valued at about $7,879,000. Farallon Capital Management LLC increased its position in shares of Quanterix by 156.0% during the 1st quarter. Farallon Capital Management LLC now owns 471,000 shares of the company’s stock valued at $11,097,000 after purchasing an additional 287,000 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Quanterix by 15.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 974,111 shares of the company’s stock valued at $26,635,000 after acquiring an additional 131,195 shares during the period. Finally, RWA Wealth Partners LLC grew its stake in shares of Quanterix by 51.8% during the 1st quarter. RWA Wealth Partners LLC now owns 293,203 shares of the company’s stock valued at $6,908,000 after acquiring an additional 100,000 shares during the period. Institutional investors own 86.48% of the company’s stock.

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.