Leerink Partnrs Predicts Weaker Earnings for Quanterix

Quanterix Co. (NASDAQ:QTRX) – Equities researchers at Leerink Partnrs lowered their FY2024 earnings estimates for Quanterix in a report issued on Tuesday, January 7th. Leerink Partnrs analyst P. Souda now forecasts that the company will post earnings per share of ($0.94) for the year, down from their prior forecast of ($0.88). The consensus estimate for Quanterix’s current full-year earnings is ($0.88) per share. Leerink Partnrs also issued estimates for Quanterix’s Q4 2024 earnings at ($0.24) EPS, Q1 2025 earnings at ($0.26) EPS, Q2 2025 earnings at ($0.24) EPS, Q3 2025 earnings at ($0.18) EPS and FY2025 earnings at ($0.88) EPS.

Separately, TD Cowen raised their price objective on shares of Quanterix from $13.50 to $16.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th.

Quanterix Stock Down 0.5 %

NASDAQ:QTRX opened at $11.73 on Thursday. The business’s 50-day moving average price is $12.02 and its 200 day moving average price is $12.69. Quanterix has a 52-week low of $9.87 and a 52-week high of $29.70. The firm has a market cap of $451.89 million, a P/E ratio of -11.17 and a beta of 1.33.

Institutional Trading of Quanterix

A number of hedge funds have recently bought and sold shares of QTRX. Bank of New York Mellon Corp lifted its stake in Quanterix by 14.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 132,100 shares of the company’s stock worth $1,745,000 after acquiring an additional 16,395 shares in the last quarter. Pier Capital LLC grew its position in Quanterix by 48.9% during the second quarter. Pier Capital LLC now owns 414,542 shares of the company’s stock valued at $5,476,000 after purchasing an additional 136,051 shares in the last quarter. American Century Companies Inc. grew its position in Quanterix by 14.5% during the second quarter. American Century Companies Inc. now owns 56,145 shares of the company’s stock valued at $742,000 after purchasing an additional 7,118 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Quanterix by 2,261.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 209,731 shares of the company’s stock worth $2,771,000 after buying an additional 200,851 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Quanterix by 34.7% during the 2nd quarter. Hsbc Holdings PLC now owns 12,738 shares of the company’s stock valued at $164,000 after buying an additional 3,279 shares during the period. 86.48% of the stock is owned by hedge funds and other institutional investors.

About Quanterix

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.