Equities analysts expect Quanterix Corp (NASDAQ:QTRX) to report sales of $8.52 million for the current quarter, Zacks reports. Three analysts have made estimates for Quanterix’s earnings, with the highest sales estimate coming in at $8.62 million and the lowest estimate coming in at $8.40 million. The company is expected to issue its next earnings report on Friday, November 9th.
On average, analysts expect that Quanterix will report full-year sales of $34.55 million for the current year, with estimates ranging from $34.10 million to $35.09 million. For the next financial year, analysts anticipate that the business will post sales of $50.02 million, with estimates ranging from $49.16 million to $50.89 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Quanterix.
Quanterix (NASDAQ:QTRX) last posted its quarterly earnings data on Friday, August 10th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.06). The firm had revenue of $8.64 million during the quarter, compared to analysts’ expectations of $7.92 million.
QTRX has been the subject of several research analyst reports. Zacks Investment Research upgraded Quanterix from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. ValuEngine upgraded Quanterix from a “hold” rating to a “buy” rating in a report on Monday, June 11th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $26.50.
NASDAQ QTRX opened at $18.17 on Friday. Quanterix has a 52 week low of $13.00 and a 52 week high of $24.81. The stock has a market capitalization of $473.37 million and a PE ratio of -2.19.
In other Quanterix news, Chairman E Kevin Hrusovsky sold 2,995 shares of the firm’s stock in a transaction that occurred 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 at this link. Company 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. Acadian Asset Management LLC purchased a new position in Quanterix during the 2nd quarter valued at approximately $117,000. California State Teachers Retirement System purchased a new position in Quanterix during the 1st quarter valued at approximately $129,000. First Republic Investment Management Inc. purchased a new position in Quanterix during the 2nd quarter valued at approximately $235,000. Bank of New York Mellon Corp purchased a new position in shares of Quanterix in the 2nd quarter worth approximately $312,000. Finally, Pendal Group Ltd purchased a new position in shares of Quanterix in the 2nd quarter worth approximately $359,000. Institutional investors and hedge funds own 49.14% of the company’s stock.
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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