Equities research analysts expect that Quanterix Corp (NASDAQ:QTRX) will announce $8.52 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Quanterix’s earnings, with the lowest sales estimate coming in at $8.40 million and the highest estimate coming in at $8.62 million. The firm is expected to announce its next earnings results on Friday, November 9th.
According to Zacks, analysts expect that Quanterix will report full-year sales of $34.55 million for the current financial year, with estimates ranging from $34.10 million to $35.09 million. For the next fiscal year, analysts anticipate that the firm will report sales of $50.02 million per share, with estimates ranging from $49.16 million to $50.89 million. Zacks’ sales averages are an average based on a survey of research firms that cover Quanterix.
A number of equities research analysts have weighed in on QTRX shares. Zacks Investment Research upgraded Quanterix from a “sell” rating to a “hold” rating in a research report on Saturday, June 9th. ValuEngine upgraded Quanterix from a “hold” rating to a “buy” rating in a research report on Monday, June 11th. Finally, BTIG Research restated a “buy” rating and issued a $26.00 target price on shares of Quanterix in a research report on Sunday, May 13th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $26.50.
In other news, SVP Ernest Orticerio sold 25,000 shares of the stock in a transaction on Tuesday, June 5th. The stock was sold at an average price of $17.15, for a total transaction of $428,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 31.60% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in QTRX. Acadian Asset Management LLC acquired a new stake in shares of Quanterix during the 2nd quarter valued at $117,000. California State Teachers Retirement System acquired a new stake in shares of Quanterix during the 1st quarter valued at $129,000. First Republic Investment Management Inc. acquired a new stake in shares of Quanterix during the 2nd quarter valued at $235,000. Bank of New York Mellon Corp acquired a new stake in shares of Quanterix during the 2nd quarter valued at $312,000. Finally, Pendal Group Ltd acquired a new stake in shares of Quanterix during the 2nd quarter valued at $359,000. Institutional investors own 47.85% of the company’s stock.
QTRX traded up $0.29 during trading on Wednesday, reaching $14.65. The stock had a trading volume of 19,688 shares, compared to its average volume of 102,165. The company has a market capitalization of $323.03 million and a price-to-earnings ratio of -1.77. Quanterix has a 1-year low of $13.00 and a 1-year high of $24.81.
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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