Q3 Earnings Forecast for Quanterix Issued By Leerink Partnrs

Quanterix Co. (NASDAQ:QTRX) – Analysts at Leerink Partnrs raised their Q3 2024 EPS estimates for Quanterix in a research report issued to clients and investors on Tuesday, November 12th. Leerink Partnrs analyst P. Souda now anticipates that the company will post earnings of ($0.19) per share for the quarter, up from their previous forecast of ($0.20). 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 ($0.20) EPS, Q3 2025 earnings at ($0.20) EPS and Q4 2025 earnings at ($0.21) EPS.

Several other equities research analysts have also recently weighed in on the stock. Scotiabank cut their price objective on shares of Quanterix from $32.00 to $28.00 and set a “sector outperform” rating for the company in a research report on Monday, August 12th. TD Cowen increased their target price on shares of Quanterix from $13.50 to $16.00 and gave the stock a “hold” rating in a report on Wednesday.

Quanterix Price Performance

Shares of Quanterix stock opened at $11.92 on Friday. The firm has a 50-day moving average of $12.97 and a 200-day moving average of $14.01. Quanterix has a 52-week low of $10.50 and a 52-week high of $29.70.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. increased its position in Quanterix by 772.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 83,941 shares of the company’s stock valued at $1,109,000 after purchasing an additional 74,318 shares during the period. Emerald Advisers LLC increased its position in Quanterix by 5.6% during the 3rd quarter. Emerald Advisers LLC now owns 719,217 shares of the company’s stock valued at $9,321,000 after purchasing an additional 38,230 shares during the period. Easterly Investment Partners LLC increased its position in Quanterix by 779.9% during the 2nd quarter. Easterly Investment Partners LLC now owns 692,746 shares of the company’s stock valued at $9,151,000 after purchasing an additional 614,012 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Quanterix during the 2nd quarter valued at approximately $3,389,000. Finally, Picton Mahoney Asset Management increased its position in Quanterix by 91.7% during the 2nd quarter. Picton Mahoney Asset Management now owns 165,076 shares of the company’s stock valued at $2,180,000 after purchasing an additional 78,984 shares during the period. Institutional investors and hedge funds own 86.48% of the company’s stock.

Insider Activity

In other news, Director David R. Walt acquired 47,000 shares of the stock in a transaction dated Tuesday, August 20th. The stock was bought at an average price of $13.29 per share, with a total value of $624,630.00. Following the completion of the purchase, the director now directly owns 1,487,342 shares of the company’s stock, valued at $19,766,775.18. This represents a 3.26 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.90% of the stock is currently owned by insiders.

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.