Shares of Quanterix Corp (NASDAQ:QTRX) have been given an average rating of “Buy” by the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $26.67.
QTRX has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Quanterix from a “hold” rating to a “sell” rating in a report on Wednesday, June 27th. Canaccord Genuity initiated coverage on Quanterix in a report on Wednesday, October 10th. They set a “buy” rating and a $27.00 target price on the stock.
In related 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 value of $62,625.45. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 31.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Gilder Gagnon Howe & Co. LLC increased its position in Quanterix by 54.2% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,090,893 shares of the company’s stock valued at $15,665,000 after acquiring an additional 383,602 shares during the period. Royce & Associates LP increased its position in Quanterix by 83.6% in the 2nd quarter. Royce & Associates LP now owns 479,000 shares of the company’s stock valued at $6,878,000 after acquiring an additional 218,115 shares during the period. Jennison Associates LLC increased its position in Quanterix by 1.8% in the 2nd quarter. Jennison Associates LLC now owns 351,831 shares of the company’s stock valued at $5,052,000 after acquiring an additional 6,170 shares during the period. BlackRock Inc. increased its position in Quanterix by 22.1% in the 2nd quarter. BlackRock Inc. now owns 246,466 shares of the company’s stock valued at $3,539,000 after acquiring an additional 44,662 shares during the period. Finally, Bellevue Group AG increased its position in Quanterix by 97.5% in the 2nd quarter. Bellevue Group AG now owns 165,480 shares of the company’s stock valued at $2,376,000 after acquiring an additional 81,680 shares during the period. 49.15% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:QTRX traded down $0.46 during trading hours on Friday, reaching $18.02. 53,000 shares of the stock were exchanged, compared to its average volume of 101,859. Quanterix has a 52 week low of $13.00 and a 52 week high of $24.81. The company has a market cap of $421.44 million and a PE ratio of -2.23.
Quanterix (NASDAQ:QTRX) last released its earnings results on Friday, August 10th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.06). The business had revenue of $8.64 million during the quarter, compared to the consensus estimate of $7.92 million. Analysts anticipate that Quanterix will post -1.2 earnings per share for the current fiscal year.
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.
See Also: Outstanding Shares
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