Leerink Partners Reaffirms Market Perform Rating for Quanterix (NASDAQ:QTRX)

Leerink Partners restated their market perform rating on shares of Quanterix (NASDAQ:QTRX - Free Report) in a report issued on Wednesday morning,Benzinga reports. They currently have a $8.00 price objective on the stock, down from their previous price objective of $12.00.

Other equities analysts have also recently issued reports about the stock. Scotiabank reissued an "outperform" rating on shares of Quanterix in a research note on Tuesday, March 25th. Canaccord Genuity Group dropped their price target on Quanterix from $20.00 to $15.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Quanterix presently has a consensus rating of "Moderate Buy" and an average price target of $16.20.

Quanterix Trading Down 3.9 %

Shares of NASDAQ:QTRX traded down $0.24 during mid-day trading on Wednesday, reaching $5.79. The stock had a trading volume of 156,783 shares, compared to its average volume of 551,500. The business's 50 day moving average price is $6.35 and its 200 day moving average price is $9.30. Quanterix has a 1 year low of $4.67 and a 1 year high of $19.18. The company has a market cap of $224.39 million, a P/E ratio of -5.45 and a beta of 1.12.

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

Institutional Trading of Quanterix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Easterly Investment Partners LLC lifted its holdings in shares of Quanterix by 38.8% in the 1st quarter. Easterly Investment Partners LLC now owns 1,325,620 shares of the company's stock worth $8,630,000 after buying an additional 370,625 shares during the period. Trium Capital LLP acquired a new stake in shares of Quanterix during the first quarter worth $3,642,000. Envestnet Asset Management Inc. grew its stake in Quanterix by 46.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 500,398 shares of the company's stock valued at $3,258,000 after purchasing an additional 158,134 shares during the last quarter. Aaron Wealth Advisors LLC acquired a new position in Quanterix in the 1st quarter worth approximately $79,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Quanterix during the first quarter valued at $98,000. 86.48% of the stock is owned by hedge funds and other institutional investors.

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.