Quanterix Co. (NASDAQ:QTRX) Receives Average Rating of “Buy” from Analysts

Quanterix Co. (NASDAQ:QTRX) has received an average recommendation of “Buy” from the six ratings firms that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $32.00.

Separately, 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 report on Monday, March 4th.

Quanterix Stock Performance

Shares of NASDAQ:QTRX opened at $23.56 on Friday. The stock has a market capitalization of $896.69 million, a price-to-earnings ratio of -27.40 and a beta of 1.31. Quanterix has a 1-year low of $10.30 and a 1-year high of $29.70. The company’s fifty day moving average is $24.81 and its two-hundred day moving average is $24.38.

Quanterix (NASDAQ:QTRX) last issued its earnings results on Thursday, February 29th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.05). The business had revenue of $31.55 million for the quarter, compared to analyst estimates of $27.92 million. Quanterix had a negative return on equity of 9.15% and a negative net margin of 26.42%. Sell-side analysts expect that Quanterix will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling

In other Quanterix news, Director Laurie J. Olson sold 1,500 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $24.35, for a total transaction of $36,525.00. Following the transaction, the director now owns 15,238 shares in the company, valued at $371,045.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 6.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Quanterix

Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. lifted its position in Quanterix by 184.6% in the first quarter. Advisor Group Holdings Inc. now owns 885 shares of the company’s stock worth $404,000 after purchasing an additional 574 shares during the period. JPMorgan Chase & Co. lifted its position in Quanterix by 1.2% in the first quarter. JPMorgan Chase & Co. now owns 75,228 shares of the company’s stock worth $2,196,000 after purchasing an additional 906 shares during the period. PNC Financial Services Group Inc. lifted its position in Quanterix by 73.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,845 shares of the company’s stock worth $53,000 after purchasing an additional 784 shares during the period. MetLife Investment Management LLC lifted its position in Quanterix by 58.5% in the first quarter. MetLife Investment Management LLC now owns 17,799 shares of the company’s stock worth $520,000 after purchasing an additional 6,569 shares during the period. Finally, Panagora Asset Management Inc. lifted its position in Quanterix by 6.7% in the first quarter. Panagora Asset Management Inc. now owns 44,750 shares of the company’s stock worth $1,306,000 after purchasing an additional 2,793 shares during the period. Institutional investors and hedge funds 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.