Quanterix (NASDAQ:QTRX) Price Target Lowered to $4.00 at TD Cowen

Quanterix (NASDAQ:QTRX) had its target price reduced by TD Cowen from $7.00 to $4.00 in a research report sent to investors on Thursday morning,Benzinga reports. TD Cowen currently has a hold rating on the stock.

Several other research firms have also issued reports on QTRX. Wall Street Zen lowered shares of Quanterix from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Canaccord Genuity Group decreased their price target on shares of Quanterix from $8.00 to $4.00 and set a “hold” rating on the stock in a research report on Monday, April 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Quanterix in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Quanterix presently has an average rating of “Reduce” and a consensus price target of $4.00.

Quanterix Price Performance

Shares of QTRX opened at $2.75 on Thursday. The company has a market capitalization of $129.43 million, a PE ratio of -1.17 and a beta of 1.15. Quanterix has a one year low of $2.56 and a one year high of $8.77. The company’s fifty day moving average price is $4.11 and its 200 day moving average price is $5.60.

Quanterix (NASDAQ:QTRX) last announced its earnings results on Wednesday, May 6th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.12. The firm had revenue of $35.90 million for the quarter, compared to the consensus estimate of $36.84 million. Quanterix had a negative net margin of 71.86% and a negative return on equity of 23.55%. Analysts anticipate that Quanterix will post -0.97 earnings per share for the current year.

Institutional Trading of Quanterix

Several institutional investors have recently made changes to their positions in the business. Portolan Capital Management LLC boosted its position in shares of Quanterix by 17.2% during the 3rd quarter. Portolan Capital Management LLC now owns 4,259,851 shares of the company’s stock valued at $23,131,000 after acquiring an additional 626,229 shares in the last quarter. Ameriprise Financial Inc. boosted 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 valued at $28,175,000 after acquiring an additional 521,639 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Quanterix by 4.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,647,515 shares of the company’s stock valued at $14,376,000 after acquiring an additional 118,565 shares in the last quarter. William Blair Investment Management LLC boosted its position in shares of Quanterix by 55.6% during the 4th quarter. William Blair Investment Management LLC now owns 2,046,449 shares of the company’s stock valued at $13,015,000 after acquiring an additional 731,169 shares in the last quarter. Finally, Invenomic Capital Management LP boosted its position in shares of Quanterix by 8.1% during the 4th quarter. Invenomic Capital Management LP now owns 1,505,208 shares of the company’s stock valued at $9,573,000 after acquiring an additional 112,203 shares in the last quarter. 86.48% of the stock is currently owned by institutional investors and hedge funds.

Quanterix Company Profile

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.