Quanterix Corp (NASDAQ:QTRX) has been given a consensus rating of “Buy” by the seven brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $26.67.
QTRX has been the topic of several research reports. Zacks Investment Research raised Quanterix from a “sell” rating to a “hold” rating in a report on Tuesday, September 11th. Canaccord Genuity initiated coverage on Quanterix in a report on Wednesday, October 10th. They issued a “buy” rating and a $27.00 target price on the stock.
NASDAQ:QTRX opened at $16.65 on Tuesday. The stock has a market cap of $386.52 million and a price-to-earnings ratio of -2.01. Quanterix has a 52 week low of $13.00 and a 52 week high of $24.81.
Quanterix (NASDAQ:QTRX) last posted its quarterly earnings results on Friday, August 10th. The company reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.06). The business had revenue of $8.64 million during the quarter, compared to analyst estimates of $7.92 million. On average, equities research analysts predict that Quanterix will post -1.2 EPS for the current year.
In other news, Chairman E Kevin Hrusovsky sold 17,909 shares of Quanterix stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $14.53, for a total value of $260,217.77. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 23,733 shares of company stock worth $373,680 over the last ninety days. Insiders own 31.60% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Gilder Gagnon Howe & Co. LLC increased its holdings in shares of Quanterix by 54.2% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,090,893 shares of the company’s stock worth $15,665,000 after purchasing an additional 383,602 shares during the last quarter. Royce & Associates LP grew its position in Quanterix by 83.6% in the second quarter. Royce & Associates LP now owns 479,000 shares of the company’s stock worth $6,878,000 after acquiring an additional 218,115 shares in the last quarter. Jennison Associates LLC grew its position in Quanterix by 1.8% in the second quarter. Jennison Associates LLC now owns 351,831 shares of the company’s stock worth $5,052,000 after acquiring an additional 6,170 shares in the last quarter. BlackRock Inc. grew its position in Quanterix by 22.1% in the second quarter. BlackRock Inc. now owns 246,466 shares of the company’s stock worth $3,539,000 after acquiring an additional 44,662 shares in the last quarter. Finally, Bellevue Group AG grew its position in Quanterix by 97.5% in the second quarter. Bellevue Group AG now owns 165,480 shares of the company’s stock worth $2,376,000 after acquiring an additional 81,680 shares in the last quarter. 49.14% of the stock is currently owned by hedge funds and other institutional investors.
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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