Quanterix (NASDAQ:QTRX) PT Lowered to $24.00

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

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

Quanterix Trading Up 5.0 %

Shares of QTRX opened at $13.28 on Tuesday. The stock has a market capitalization of $508.23 million, a P/E ratio of -13.83 and a beta of 1.39. The firm’s fifty day simple moving average is $15.27 and its two-hundred day simple moving average is $20.52. Quanterix has a 12 month low of $11.82 and a 12 month high of $29.70.

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

Institutional Investors Weigh In On Quanterix

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Quanterix by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,069,423 shares of the company’s stock worth $48,756,000 after acquiring an additional 14,390 shares during the last quarter. Lord Abbett & CO. LLC grew its position in Quanterix by 22.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,757,153 shares of the company’s stock worth $41,398,000 after purchasing an additional 326,876 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Quanterix by 15.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 974,111 shares of the company’s stock worth $26,635,000 after purchasing an additional 131,195 shares in the last quarter. Farallon Capital Management LLC grew its position in Quanterix by 156.0% in the 1st quarter. Farallon Capital Management LLC now owns 471,000 shares of the company’s stock worth $11,097,000 after purchasing an additional 287,000 shares in the last quarter. Finally, Blue Water Life Science Advisors LP grew its position in Quanterix by 7.3% in the 1st quarter. Blue Water Life Science Advisors LP now owns 309,093 shares of the company’s stock worth $7,282,000 after purchasing an additional 20,897 shares in the last quarter. Institutional investors and hedge funds 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.