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Quanterix Corporation (QTRX) Surges 13.6%: Is This an Indication of Further Gains?

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Quanterix Corporation (QTRX - Free Report) shares ended the last trading session 13.6% higher at $24.02. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 8.4% loss over the past four weeks.

The recent launch of biomarker blood test for diagnosis of Alzheimer's disease primarily drove Quanterix's share prices.

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 +46.3%. Revenues are expected to be $26.45 million, up 12.6% 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 belongs to the Zacks Medical - Products industry. Another stock from the same industry, TG Therapeutics (TGTX - Free Report) , closed the last trading session 8.3% higher at $24.96. Over the past month, TGTX has returned -20.5%.

TG Therapeutics' consensus EPS estimate for the upcoming report has changed +16% over the past month to -$0.25. Compared to the company's year-ago EPS, this represents a change of +16.7%. TG Therapeutics currently boasts a Zacks Rank of #2 (Buy).

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