Brokerages Set Quanterix Co. (NASDAQ:QTRX) PT at $32.00

Shares of Quanterix Co. (NASDAQ:QTRX) have earned a consensus rating of “Buy” from the six research firms that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $32.00.

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

Insider Activity

In other news, Director Laurie J. Olson sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $24.35, for a total transaction of $36,525.00. Following the sale, the director now directly owns 15,238 shares in the company, valued at approximately $371,045.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Quanterix

Institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new stake in shares of Quanterix during the 1st quarter valued at about $29,000. US Bancorp DE grew its position in shares of Quanterix by 35.6% during the 2nd quarter. US Bancorp DE now owns 1,709 shares of the company’s stock valued at $39,000 after acquiring an additional 449 shares during the period. Advisor Group Holdings Inc. boosted its holdings in Quanterix by 974.3% in the 4th quarter. Advisor Group Holdings Inc. now owns 2,890 shares of the company’s stock worth $40,000 after buying an additional 2,621 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Quanterix in the 2nd quarter worth about $47,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Quanterix by 73.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,845 shares of the company’s stock worth $53,000 after buying an additional 784 shares during the last quarter. 86.48% of the stock is currently owned by institutional investors and hedge funds.

Quanterix Stock Performance

NASDAQ QTRX opened at $15.79 on Tuesday. The stock has a 50-day simple moving average of $23.83 and a two-hundred day simple moving average of $23.77. The firm has a market capitalization of $603.97 million, a P/E ratio of -18.36 and a beta of 1.30. Quanterix has a fifty-two week low of $11.39 and a fifty-two week high of $29.70.

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