Canaccord Genuity Group Lowers Quanterix (NASDAQ:QTRX) Price Target to $12.00

Quanterix (NASDAQ:QTRX - Free Report) had its target price reduced by Canaccord Genuity Group from $15.00 to $12.00 in a report issued on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also weighed in on QTRX. Leerink Partnrs lowered Quanterix from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Leerink Partners reissued a "market perform" rating and issued a $8.00 target price (down previously from $12.00) on shares of Quanterix in a research report on Wednesday, April 30th. Finally, Scotiabank restated an "outperform" rating on shares of Quanterix in a research note on Tuesday, March 25th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $15.60.

Quanterix Trading Up 6.4%

NASDAQ:QTRX traded up $0.29 during mid-day trading on Tuesday, reaching $4.79. The company's stock had a trading volume of 734,544 shares, compared to its average volume of 566,619. Quanterix has a 12-month low of $4.05 and a 12-month high of $19.18. The firm's fifty day moving average price is $5.88 and its two-hundred day moving average price is $8.80. The stock has a market cap of $185.99 million, a P/E ratio of -4.52 and a beta of 1.12.

Quanterix (NASDAQ:QTRX - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.53) earnings per share for the quarter, topping analysts' consensus estimates of ($0.69) by $0.16. Quanterix had a negative return on equity of 11.74% and a negative net margin of 30.12%. The business had revenue of $30.33 million during the quarter, compared to analyst estimates of $28.27 million. Analysts predict that Quanterix will post -0.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Quanterix

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of Quanterix by 23.9% during the 4th quarter. JPMorgan Chase & Co. now owns 270,054 shares of the company's stock valued at $2,871,000 after purchasing an additional 52,097 shares during the period. Raymond James Financial Inc. bought a new position in shares of Quanterix during the 4th quarter valued at approximately $570,000. Barclays PLC grew its stake in shares of Quanterix by 42.3% during the 3rd quarter. Barclays PLC now owns 146,248 shares of the company's stock valued at $1,896,000 after acquiring an additional 43,447 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Quanterix by 219.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,702 shares of the company's stock valued at $61,000 after acquiring an additional 3,915 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of Quanterix by 22.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 342,264 shares of the company's stock valued at $3,638,000 after acquiring an additional 62,757 shares during the period. 86.48% of the stock is currently owned by institutional investors.

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.