Quanterix Corp (QTRX) Given Consensus Recommendation of “Strong Buy” by Analysts

Quanterix Corp (NASDAQ:QTRX) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the four analysts that cover the stock, Zacks Investment Research reports. Four equities research analysts have rated the stock with a strong buy rating.

Brokerages have set a 1 year consensus price objective of $25.67 for the company and are anticipating that the company will post ($0.30) earnings per share for the current quarter, according to Zacks. Zacks has also given Quanterix an industry rank of 175 out of 265 based on the ratings given to related companies.

QTRX has been the topic of several recent analyst reports. Leerink Swann initiated coverage on Quanterix in a report on Tuesday, January 2nd. They set an “outperform” rating and a $27.00 target price on the stock. BTIG Research initiated coverage on Quanterix in a report on Tuesday, January 2nd. They set a “buy” rating and a $26.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on Quanterix in a report on Tuesday, January 2nd. They set an “overweight” rating on the stock. Finally, Cowen initiated coverage on Quanterix in a report on Tuesday, January 2nd. They set an “outperform” rating on the stock.

Shares of Quanterix (QTRX) traded up $1.97 during trading hours on Friday, reaching $23.39. The company had a trading volume of 142,445 shares, compared to its average volume of 119,271. Quanterix has a 1 year low of $15.56 and a 1 year high of $24.81.

In other Quanterix news, Director David R. Walt purchased 200,000 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were purchased at an average price of $15.00 per share, for a total transaction of $3,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Venture Fund Viii Overage Arch purchased 266,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was acquired at an average price of $15.00 per share, for a total transaction of $3,990,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 500,000 shares of company stock worth $7,500,000.

Institutional investors have recently bought and sold shares of the business. Jennison Associates LLC acquired a new position in Quanterix in the fourth quarter worth approximately $6,353,000. Flagship Pioneering Inc. acquired a new position in Quanterix in the fourth quarter worth approximately $43,595,000. Millennium Management LLC acquired a new position in Quanterix in the fourth quarter worth approximately $11,014,000. Park West Asset Management LLC acquired a new position in Quanterix in the fourth quarter worth approximately $4,796,000. Finally, Royce & Associates LP acquired a new position in Quanterix in the fourth quarter worth approximately $4,382,000. Hedge funds and other institutional investors own 1.44% of the company’s stock.

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About Quanterix

Quanterix Corporation is a United States-based company, which develops tools for high definition diagnostics. The Company offers single molecule array (Simoa) platform, which uses single molecule measurements to access proteins. Simoa focuses on research and clinical testing applications. The Company focuses on research and diagnostics for brain injuries, heart disease, cancer and other diseases with its technology.

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