Quanterix (NASDAQ:QTRX) Price Target Raised to $8.00

Quanterix (NASDAQ:QTRX) had its price target raised by Canaccord Genuity Group from $5.00 to $8.00 in a research note released on Monday morning, MarketBeat.com reports. They currently have a hold rating on the stock.

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

Quanterix Stock Performance

NASDAQ:QTRX opened at $6.64 on Monday. The stock has a 50-day simple moving average of $6.31 and a 200 day simple moving average of $5.81. Quanterix has a 52-week low of $4.05 and a 52-week high of $12.41. The company has a market cap of $309.92 million, a PE ratio of -2.85 and a beta of 1.01.

Quanterix (NASDAQ:QTRX) last released its earnings results on Monday, November 10th. The company reported ($0.36) 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 firm had revenue of $40.23 million during the quarter, compared to the consensus estimate of $37.85 million. On average, research analysts predict that Quanterix will post -0.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Quanterix

A number of institutional investors and hedge funds have recently modified their holdings of QTRX. Quarry LP lifted its stake in Quanterix by 277,300.0% in the 3rd quarter. Quarry LP now owns 5,548 shares of the company’s stock valued at $30,000 after purchasing an additional 5,546 shares during the last quarter. State of Wyoming bought a new stake in Quanterix in the first quarter valued at approximately $47,000. R Squared Ltd acquired a new stake in shares of Quanterix in the third quarter valued at approximately $64,000. Quantbot Technologies LP lifted 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 buying an additional 8,013 shares during the last quarter. Finally, HUB Investment Partners LLC bought a new position in shares of Quanterix during the 2nd quarter worth approximately $81,000. 86.48% of the stock is owned by institutional investors.

Quanterix Company Profile

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.