Quanterix (NASDAQ:QTRX) PT Lowered to $24.00

Quanterix (NASDAQ:QTRX) had its price objective cut by analysts at The Goldman Sachs Group from $35.00 to $24.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 80.72% from the stock’s current price.

Separately, Canaccord Genuity Group decreased their target price on shares of Quanterix from $32.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $28.60.

Quanterix Trading Up 5.0 %

Shares of NASDAQ QTRX opened at $13.28 on Tuesday. Quanterix has a 12 month low of $11.82 and a 12 month high of $29.70. The company has a 50 day simple moving average of $15.27 and a two-hundred day simple moving average of $20.52. The stock has a market cap of $508.23 million, a price-to-earnings ratio of -13.83 and a beta of 1.39.

Quanterix (NASDAQ:QTRX) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.07. Quanterix had a negative net margin of 28.82% and a negative return on equity of 10.39%. The business had revenue of $32.07 million during the quarter, compared to analysts’ expectations of $31.72 million. Analysts forecast that Quanterix will post -0.86 EPS for the current year.

Institutional Investors Weigh In On Quanterix

Several institutional investors and hedge funds have recently added to or reduced their stakes in QTRX. AJOVista LLC purchased a new stake in Quanterix in the 4th quarter worth $81,000. Picton Mahoney Asset Management purchased a new stake in Quanterix in the 4th quarter worth $139,000. Comerica Bank increased its holdings in Quanterix by 44,205.6% in the 1st quarter. Comerica Bank now owns 7,975 shares of the company’s stock worth $188,000 after acquiring an additional 7,957 shares in the last quarter. Quest Partners LLC purchased a new stake in Quanterix in the 4th quarter worth $240,000. Finally, Janney Capital Management LLC purchased a new stake in Quanterix in the 1st quarter worth $259,000. Hedge funds and other institutional investors own 86.48% of the company’s stock.

Quanterix Company Profile

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.