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Quanterix Corporation (QTRX) Moves 7.2% Higher: Will This Strength Last?

Quanterix Corporation QTRX shares rallied 7.2% in the last trading session to close at $27.39. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.7% gain over the past four weeks.

Quanterix recorded a strong price increase after Canaccord Genuity upgraded the company and raised the price target, indicating that the company is performing well and has strong growth potential in the market.

This company is expected to post quarterly loss of $0.36 per share in its upcoming report, which represents a year-over-year change of +10%. Revenues are expected to be $27.4 million, up 2.8% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Quanterix Corporation, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on QTRX going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Quanterix Corporation is part of the Zacks Medical - Products industry. Aurora Cannabis Inc. ACB, another stock in the same industry, closed the last trading session 5.1% lower at $0.67. ACB has returned 58% in the past month.

Aurora Cannabis Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.05. Compared to the company's year-ago EPS, this represents a change of +37.5%. Aurora Cannabis Inc. currently boasts a Zacks Rank of #3 (Hold).

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Quanterix Corporation (QTRX) : Free Stock Analysis Report

Aurora Cannabis Inc. (ACB) : Free Stock Analysis Report

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