TD Cowen Lowers Quanterix (NASDAQ:QTRX) Price Target to $4.00

Quanterix (NASDAQ:QTRX) had its target price decreased by analysts at TD Cowen from $7.00 to $4.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s target price would indicate a potential upside of 41.34% from the company’s previous close.

Several other research analysts have also issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Quanterix in a research report on Tuesday, April 21st. Canaccord Genuity Group decreased their price objective on shares of Quanterix from $8.00 to $4.00 and set a “hold” rating for the company in a research note on Monday, April 20th. Finally, Wall Street Zen lowered shares of Quanterix from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $4.00.

Quanterix Stock Performance

Quanterix stock opened at $2.83 on Thursday. The firm has a market cap of $133.32 million, a price-to-earnings ratio of -1.20 and a beta of 1.15. Quanterix has a 1 year low of $2.56 and a 1 year high of $8.77. The firm’s 50 day moving average price is $4.11 and its two-hundred day moving average price is $5.60.

Quanterix (NASDAQ:QTRX) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.12. The firm had revenue of $35.90 million for the quarter, compared to analyst estimates of $36.84 million. Quanterix had a negative net margin of 71.86% and a negative return on equity of 23.92%. As a group, equities analysts predict that Quanterix will post -0.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Quanterix

Several institutional investors and hedge funds have recently modified their holdings of QTRX. Royal Bank of Canada lifted its stake in shares of Quanterix by 26.3% in the 1st quarter. Royal Bank of Canada now owns 170,745 shares of the company’s stock valued at $1,112,000 after purchasing an additional 35,509 shares during the last quarter. AQR Capital Management LLC boosted its position in Quanterix by 204.4% during the first quarter. AQR Capital Management LLC now owns 98,990 shares of the company’s stock worth $644,000 after purchasing an additional 66,470 shares during the period. Goldman Sachs Group Inc. boosted its position in Quanterix by 20.6% during the first quarter. Goldman Sachs Group Inc. now owns 349,696 shares of the company’s stock worth $2,277,000 after purchasing an additional 59,655 shares during the period. Jane Street Group LLC boosted its position in Quanterix by 4.2% during the first quarter. Jane Street Group LLC now owns 58,313 shares of the company’s stock worth $380,000 after purchasing an additional 2,366 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Quanterix by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 887,080 shares of the company’s stock worth $5,900,000 after acquiring an additional 21,210 shares during the period. Institutional investors and hedge funds own 86.48% of the company’s stock.

About Quanterix

Quanterix Corporation is a life sciences and diagnostics company specializing in ultra-sensitive digital immunoassay platforms. Its proprietary Single Molecule Array (Simoa) technology enables researchers to detect and quantify proteins, peptides and nucleic acids at femtomolar concentrations, offering sensitivity that surpasses traditional immunoassay methods. By translating single-molecule detection into routine laboratory workflows, Quanterix aims to accelerate biomarker discovery and the development of novel diagnostics and therapeutics.

The company’s core product portfolio includes the Simoa HD-1 and HD-X Analyzers, which automate high-throughput digital immunoassays for quantifying low-abundance biomarkers.