Quanterix Co. (NASDAQ:QTRX) Given Average Rating of “Buy” by Analysts

Shares of Quanterix Co. (NASDAQ:QTRX) have been given a consensus recommendation of “Buy” by the six brokerages that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $30.60.

Separately, Canaccord Genuity Group cut their price target on shares of Quanterix from $32.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, April 29th.

Hedge Funds Weigh In On Quanterix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC lifted its stake in shares of Quanterix by 22.9% in the first quarter. Lord Abbett & CO. LLC now owns 1,757,153 shares of the company’s stock worth $41,398,000 after buying an additional 326,876 shares in the last quarter. Blue Water Life Science Advisors LP purchased a new position in shares of Quanterix in the fourth quarter worth about $7,879,000. Farallon Capital Management LLC lifted its stake in shares of Quanterix by 156.0% in the first quarter. Farallon Capital Management LLC now owns 471,000 shares of the company’s stock worth $11,097,000 after buying an additional 287,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Quanterix by 15.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 974,111 shares of the company’s stock worth $26,635,000 after buying an additional 131,195 shares in the last quarter. Finally, RWA Wealth Partners LLC lifted its stake in shares of Quanterix by 51.8% in the first quarter. RWA Wealth Partners LLC now owns 293,203 shares of the company’s stock worth $6,908,000 after buying an additional 100,000 shares in the last quarter. 86.48% of the stock is owned by hedge funds and other institutional investors.

Quanterix Stock Performance

Shares of QTRX opened at $12.52 on Friday. The company has a 50 day moving average price of $15.54 and a 200-day moving average price of $20.97. Quanterix has a fifty-two week low of $11.83 and a fifty-two week high of $29.70. The stock has a market capitalization of $479.14 million, a PE ratio of -13.04 and a beta of 1.39.

Quanterix (NASDAQ:QTRX) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.07. The firm had revenue of $32.07 million during the quarter, compared to analyst estimates of $31.72 million. Quanterix had a negative net margin of 28.82% and a negative return on equity of 10.39%. Equities research analysts forecast that Quanterix will post -0.86 EPS 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.