Quanterix (NASDAQ:QTRX – Get Free Report) had its target price hoisted by equities researchers at TD Cowen from $3.50 to $4.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen‘s price objective indicates a potential upside of 18.20% from the stock’s current price.
Other equities analysts have also recently issued reports about the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Quanterix in a research report on Wednesday, November 4th. Wall Street Zen lowered Quanterix from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Canaccord Genuity Group dropped their price objective on Quanterix from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Monday, August 17th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $3.50.
Check Out Our Latest Stock Report on QTRX
Quanterix Trading Up 0.1%
Shares of QTRX stock traded up $0.00 during trading on Tuesday, reaching $3.38. 361,960 shares of the company’s stock traded hands, compared to its average volume of 857,251. The firm’s 50-day moving average is $3.01 and its 200 day moving average is $3.78. The company has a market capitalization of $160.03 million, a P/E ratio of -1.29 and a beta of 1.06. Quanterix has a 1 year low of $2.15 and a 1 year high of $8.77.
Quanterix (NASDAQ:QTRX – Get Free Report) last released its quarterly earnings data on Monday, November 9th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.04). Quanterix had a negative net margin of 80.25% and a negative return on equity of 26.09%. The business had revenue of $34.97 million during the quarter, compared to analysts’ expectations of $33.85 million.
Institutional Trading of Quanterix
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Quanterix in the 2nd quarter worth $15,705,000. Levin Capital Strategies L.P. bought a new position in shares of Quanterix during the first quarter valued at about $5,153,000. GSA Capital Partners LLP bought a new position in shares of Quanterix during the second quarter valued at about $1,772,000. Bank of New York Mellon Corp bought a new position in shares of Quanterix during the second quarter valued at about $570,000. Finally, Royal Bank of Canada boosted its holdings in shares of Quanterix by 129.8% during the first quarter. Royal Bank of Canada now owns 232,101 shares of the company’s stock worth $817,000 after purchasing an additional 131,100 shares during the period. Hedge funds and other institutional investors own 86.48% of the company’s stock.
Quanterix Company Profile
Quanterix Corporation (NASDAQ:QTRX) is a life sciences company that develops ultra-sensitive digital immunoassay technologies for detecting and measuring biomarkers in blood and other biological samples. Its platform is designed to identify proteins and other molecules at very low concentrations, supporting research into disease biology, diagnosis, treatment response and drug development. The company’s principal technology, Simoa, uses digital detection methods to improve the sensitivity of immunoassays.
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