Quanterix Co. (NASDAQ:QTRX) Receives Average Recommendation of “Buy” from Brokerages

Quanterix Co. (NASDAQ:QTRX) has been given a consensus rating of “Buy” by the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $32.00.

Separately, Scotiabank increased their price objective on Quanterix from $30.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 4th.

Insider Activity at Quanterix

In related news, Director Laurie J. Olson sold 1,500 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $24.35, for a total value of $36,525.00. Following the transaction, the director now owns 15,238 shares of the company’s stock, valued at $371,045.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC grew its stake in shares of Quanterix by 93.6% during the first quarter. Los Angeles Capital Management LLC now owns 20,191 shares of the company’s stock valued at $476,000 after buying an additional 9,764 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Quanterix by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 2,055,033 shares of the company’s stock valued at $56,185,000 after buying an additional 57,738 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Quanterix by 99.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 291,090 shares of the company’s stock valued at $7,958,000 after buying an additional 144,963 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Quanterix during the fourth quarter valued at about $244,000. Finally, Ashford Capital Management Inc. grew its stake in shares of Quanterix by 4.2% during the fourth quarter. Ashford Capital Management Inc. now owns 831,885 shares of the company’s stock valued at $22,744,000 after buying an additional 33,860 shares during the last quarter. Institutional investors own 86.48% of the company’s stock.

Quanterix Price Performance

NASDAQ:QTRX opened at $17.15 on Tuesday. The company has a market cap of $652.80 million, a P/E ratio of -19.94 and a beta of 1.30. The stock’s fifty day moving average price is $24.32 and its two-hundred day moving average price is $23.96. Quanterix has a 1 year low of $11.39 and a 1 year high of $29.70.

Quanterix (NASDAQ:QTRX) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.05). Quanterix had a negative return on equity of 9.15% and a negative net margin of 26.42%. The business had revenue of $31.55 million during the quarter, compared to analysts’ expectations of $27.92 million. On average, analysts expect that Quanterix will post -1.04 earnings per share for the current fiscal 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.