Analysts Set Quanterix Corporation (NASDAQ:QTRX) Price Target at $11.33

Quanterix Corporation (NASDAQ:QTRX) has been assigned an average recommendation of “Hold” from the five brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $11.3333.

QTRX has been the subject of several recent research reports. Canaccord Genuity Group upped their target price on Quanterix from $5.00 to $8.00 and gave the company a “hold” rating in a report on Monday, December 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Quanterix in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Quanterix from a “sell” rating to a “hold” rating in a research note on Monday, December 29th.

Quanterix Trading Down 1.8%

QTRX stock opened at $6.51 on Tuesday. The stock’s 50 day simple moving average is $6.48 and its 200 day simple moving average is $5.84. Quanterix has a 12-month low of $4.05 and a 12-month high of $10.90. The firm has a market cap of $304.09 million, a P/E ratio of -2.79 and a beta of 1.00.

Quanterix (NASDAQ:QTRX) last issued its earnings results on Monday, November 10th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.13). Quanterix had a negative return on equity of 21.34% and a negative net margin of 73.47%.The business had revenue of $40.23 million for the quarter, compared to analyst estimates of $37.85 million. On average, research analysts forecast that Quanterix will post -0.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Quanterix

A number of hedge funds have recently made changes to their positions in QTRX. Millennium Management LLC boosted its position in Quanterix by 9,880.2% during the 3rd quarter. Millennium Management LLC now owns 1,209,199 shares of the company’s stock worth $6,566,000 after acquiring an additional 1,197,083 shares during the period. Balyasny Asset Management L.P. lifted its holdings in Quanterix by 1,625.2% in the second quarter. Balyasny Asset Management L.P. now owns 767,801 shares of the company’s stock worth $5,106,000 after purchasing an additional 723,295 shares during the period. Portolan Capital Management LLC grew its position in Quanterix by 17.2% in the 3rd quarter. Portolan Capital Management LLC now owns 4,259,851 shares of the company’s stock valued at $23,131,000 after buying an additional 626,229 shares in the last quarter. Blue Water Life Science Advisors LP increased its stake in Quanterix by 157.3% during the 2nd quarter. Blue Water Life Science Advisors LP now owns 957,747 shares of the company’s stock valued at $6,369,000 after buying an additional 585,572 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Quanterix by 14.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,236,877 shares of the company’s stock worth $28,175,000 after buying an additional 521,639 shares in the last quarter. Institutional investors own 86.48% of the company’s stock.

About Quanterix

Quanterix Corporation is a life sciences and diagnostics company specializing in ultra-sensitive digital immunoassay platforms. Its proprietary Single Molecule Array (Simoa) technology enables researchers to detect and quantify proteins, peptides and nucleic acids at femtomolar concentrations, offering sensitivity that surpasses traditional immunoassay methods. By translating single-molecule detection into routine laboratory workflows, Quanterix aims to accelerate biomarker discovery and the development of novel diagnostics and therapeutics.

The company’s core product portfolio includes the Simoa HD-1 and HD-X Analyzers, which automate high-throughput digital immunoassays for quantifying low-abundance biomarkers.