Quanterix (NASDAQ:QTRX) Given New $18.00 Price Target at Scotiabank

Quanterix (NASDAQ:QTRX) had its price target trimmed by Scotiabank from $28.00 to $18.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

Separately, Canaccord Genuity Group lowered their price objective on Quanterix from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th.

Quanterix Price Performance

QTRX opened at $7.02 on Tuesday. Quanterix has a fifty-two week low of $6.30 and a fifty-two week high of $23.94. The company’s 50 day moving average price is $8.12 and its two-hundred day moving average price is $10.75. The firm has a market capitalization of $272.21 million, a price-to-earnings ratio of -6.62 and a beta of 1.33.

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

Institutional Investors Weigh In On Quanterix

Several large investors have recently added to or reduced their stakes in QTRX. Ameriprise Financial Inc. boosted its holdings in shares of Quanterix by 111.3% during the 4th quarter. Ameriprise Financial Inc. now owns 3,205,928 shares of the company’s stock worth $34,079,000 after buying an additional 1,688,680 shares in the last quarter. Portolan Capital Management LLC boosted its stake in Quanterix by 2.7% during the fourth quarter. Portolan Capital Management LLC now owns 2,587,824 shares of the company’s stock worth $27,509,000 after acquiring an additional 67,138 shares in the last quarter. Vanguard Group Inc. grew its holdings in Quanterix by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 2,217,225 shares of the company’s stock worth $23,569,000 after purchasing an additional 19,386 shares during the period. Millennium Management LLC increased its stake in Quanterix by 6.0% in the fourth quarter. Millennium Management LLC now owns 2,185,101 shares of the company’s stock valued at $23,228,000 after purchasing an additional 122,969 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in shares of Quanterix during the fourth quarter valued at about $11,290,000. Institutional investors and hedge funds own 86.48% of the company’s stock.

Quanterix Company Profile

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.