Brokerages Set Quanterix Corporation (NASDAQ:QTRX) Target Price at $15.60

Quanterix Corporation (NASDAQ:QTRX) has received an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $15.60.

QTRX has been the subject of a number of analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Quanterix in a research report on Tuesday, March 25th. Leerink Partnrs downgraded shares of Quanterix from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 30th. Wall Street Zen downgraded shares of Quanterix from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Canaccord Genuity Group cut their price objective on Quanterix from $15.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. Finally, Leerink Partners reissued a “market perform” rating and issued a $8.00 price objective (down previously from $12.00) on shares of Quanterix in a report on Wednesday, April 30th.

Insider Activity

In other Quanterix news, Director William P. Donnelly purchased 93,113 shares of the business’s stock in a transaction on Friday, June 6th. The stock was acquired at an average price of $5.44 per share, with a total value of $506,534.72. Following the acquisition, the director now directly owns 139,094 shares of the company’s stock, valued at $756,671.36. This trade represents a 202.50% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David R. Walt purchased 131,869 shares of the business’s stock in a transaction on Friday, June 6th. The shares were acquired at an average cost of $5.43 per share, with a total value of $716,048.67. Following the acquisition, the director now directly owns 1,628,802 shares in the company, valued at approximately $8,844,394.86. The trade was a 8.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 463,113 shares of company stock valued at $2,625,444. 6.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Quanterix

Several hedge funds have recently added to or reduced their stakes in QTRX. Tallon Kerry Patrick acquired a new stake in Quanterix during the 4th quarter valued at $169,000. Bank of New York Mellon Corp lifted its holdings in Quanterix by 1.8% during the 4th quarter. Bank of New York Mellon Corp now owns 108,186 shares of the company’s stock valued at $1,150,000 after purchasing an additional 1,963 shares during the last quarter. Levin Capital Strategies L.P. acquired a new stake in Quanterix during the 4th quarter valued at $159,000. Raymond James Financial Inc. acquired a new stake in Quanterix during the 4th quarter valued at $570,000. Finally, Moors & Cabot Inc. lifted its holdings in Quanterix by 107.5% during the 4th quarter. Moors & Cabot Inc. now owns 30,873 shares of the company’s stock valued at $328,000 after purchasing an additional 15,992 shares during the last quarter. Institutional investors and hedge funds own 86.48% of the company’s stock.

Quanterix Price Performance

Shares of NASDAQ:QTRX opened at $6.12 on Friday. The company has a market capitalization of $237.64 million, a price-to-earnings ratio of -4.71 and a beta of 1.06. The firm’s 50 day simple moving average is $5.45 and its 200 day simple moving average is $7.50. Quanterix has a fifty-two week low of $4.05 and a fifty-two week high of $16.74.

Quanterix (NASDAQ:QTRX) last posted its earnings results on Monday, May 12th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.16. Quanterix had a negative return on equity of 15.07% and a negative net margin of 36.82%. The business had revenue of $30.33 million during the quarter, compared to analysts’ expectations of $28.27 million. Equities research analysts expect that Quanterix will post -0.98 earnings per share for the current year.

About Quanterix

Quanterix Corporation, a life sciences company, engages in development and marketing of digital immunoassay platforms that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific regions. The company offers HD-X instrument, a protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection in an expanded range of applications.