Canaccord Genuity Group Forecasts Strong Price Appreciation for Quanterix (NASDAQ:QTRX) Stock

Quanterix (NASDAQ:QTRX) had its target price lifted by investment analysts at Canaccord Genuity Group from $5.00 to $8.00 in a report issued on Monday, Marketbeat.com reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 20.48% from the stock’s current price.

A number of other research firms have also commented on QTRX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quanterix in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Quanterix from a “hold” rating to a “sell” rating in a research report on Sunday. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $11.33.

Quanterix Price Performance

Shares of NASDAQ QTRX opened at $6.64 on Monday. The company has a 50 day simple moving average of $6.29 and a 200 day simple moving average of $5.81. Quanterix has a 1 year low of $4.05 and a 1 year high of $12.41. The firm has a market cap of $310.15 million, a PE ratio of -2.85 and a beta of 1.01.

Quanterix (NASDAQ:QTRX) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.13). Quanterix had a negative net margin of 73.47% and a negative return on equity of 21.34%. The business had revenue of $40.23 million during the quarter, compared to analyst estimates of $37.85 million. As a group, research analysts anticipate that Quanterix will post -0.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Quanterix

Hedge funds have recently made changes to their positions in the business. Quarry LP grew its position in shares of Quanterix by 277,300.0% during the 3rd quarter. Quarry LP now owns 5,548 shares of the company’s stock valued at $30,000 after acquiring an additional 5,546 shares during the period. State of Wyoming bought a new position in Quanterix during the first quarter worth about $47,000. Quantbot Technologies LP raised its position in shares of Quanterix by 245.9% in the first quarter. Quantbot Technologies LP now owns 11,272 shares of the company’s stock valued at $73,000 after purchasing an additional 8,013 shares during the period. R Squared Ltd purchased a new stake in shares of Quanterix during the 3rd quarter valued at approximately $64,000. Finally, HUB Investment Partners LLC bought a new position in Quanterix in the 2nd quarter worth approximately $81,000. 86.48% of the stock is currently owned by institutional investors.

About Quanterix

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.