Quanterix (NASDAQ:QTRX) Price Target Cut to $15.00 by Analysts at Canaccord Genuity Group

Quanterix (NASDAQ:QTRX) had its target price reduced by Canaccord Genuity Group from $20.00 to $15.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Quanterix Trading Down 1.8 %

Shares of NASDAQ:QTRX opened at $7.15 on Tuesday. Quanterix has a 12-month low of $6.30 and a 12-month high of $27.37. The company has a fifty day simple moving average of $8.41 and a 200 day simple moving average of $10.93. The firm has a market cap of $275.45 million, a PE ratio of -6.75 and a beta of 1.34.

Quanterix (NASDAQ:QTRX) last posted its quarterly earnings data on Monday, March 17th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03). Quanterix had a negative net margin of 30.12% and a negative return on equity of 11.74%. The firm had revenue of $35.16 million for the quarter, compared to analysts’ expectations of $34.93 million. As a group, equities research analysts forecast that Quanterix will post -0.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Quanterix

A number of institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Quanterix by 2.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 520,869 shares of the company’s stock valued at $5,537,000 after buying an additional 10,111 shares during the last quarter. Williams Jones Wealth Management LLC. raised its holdings in Quanterix by 39.9% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 471,514 shares of the company’s stock worth $5,012,000 after purchasing an additional 134,470 shares during the last quarter. Two Sigma Advisers LP raised its holdings in Quanterix by 35.9% during the 4th quarter. Two Sigma Advisers LP now owns 36,748 shares of the company’s stock worth $391,000 after purchasing an additional 9,700 shares during the last quarter. Two Sigma Investments LP bought a new stake in Quanterix during the 4th quarter worth about $606,000. Finally, ProShare Advisors LLC bought a new stake in Quanterix during the 4th quarter worth about $108,000. Institutional investors and hedge funds own 86.48% of the company’s stock.

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.