Quanterix (QTRX) Cut to “Sell” at Zacks Investment Research
Zacks Investment Research lowered shares of Quanterix (NASDAQ:QTRX) from a hold rating to a sell rating in a research note published on Wednesday.
According to Zacks, “Quanterix Corporation is a developer of tools in high definition diagnostics. The Company focuses on research and diagnostics for brain injuries, heart disease, cancer and other diseases with its technology. It offers Simoa consumables, which include Simoa Discs, Simoa Cuvettes, Simoa Sealing Oil, Simoa Buffers and Disposable Tips. The company services include Simoa Accelerator Lab and custom assay development services. Quanterix Corporation is based in LEXINGTON, United States. “
Several other equities analysts have also recently weighed in on QTRX. BTIG Research reiterated a buy rating and set a $26.00 price objective on shares of Quanterix in a report on Sunday, May 13th. ValuEngine upgraded Quanterix from a hold rating to a buy rating in a report on Monday, June 11th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of $26.50.
Quanterix (NASDAQ:QTRX) last released its quarterly earnings data on Friday, August 10th. The company reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.06). The firm had revenue of $8.64 million during the quarter, compared to analyst estimates of $7.92 million. sell-side analysts anticipate that Quanterix will post -1.2 earnings per share for the current year.
In other news, SVP Ernest Orticerio sold 25,000 shares of Quanterix stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $17.15, for a total transaction of $428,750.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 31.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Quanterix in the 1st quarter valued at approximately $3,439,000. Northern Trust Corp acquired a new stake in Quanterix in the 1st quarter valued at approximately $894,000. Schwab Charles Investment Management Inc. acquired a new stake in Quanterix in the 1st quarter valued at approximately $374,000. Bellevue Group AG raised its position in Quanterix by 97.5% in the 2nd quarter. Bellevue Group AG now owns 165,480 shares of the company’s stock valued at $2,376,000 after buying an additional 81,680 shares during the last quarter. Finally, Opaleye Management Inc. raised its position in Quanterix by 130.8% in the 1st quarter. Opaleye Management Inc. now owns 150,000 shares of the company’s stock valued at $2,556,000 after buying an additional 85,000 shares during the last quarter. 48.86% of the stock is currently owned by institutional investors and hedge funds.
Quanterix Corporation, a life sciences company, develops and markets ultra-sensitive digital immunoassay platform that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific. It develops Simoa HD-1 Analyzer, a sensitive protein detection platform, which analyzes approximately six biomarkers per test; and Quanterix SR-X, which utilizes the same technology and assay kit as the Simoa HD-1 Analyzer.
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