Quanterix (NASDAQ:QTRX) Given Market Perform Rating at Leerink Partners

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

QTRX has been the topic of several other research reports. Scotiabank reiterated an "outperform" rating on shares of Quanterix in a report on Tuesday, March 25th. Canaccord Genuity Group decreased their price objective on Quanterix from $20.00 to $15.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Quanterix has a consensus rating of "Moderate Buy" and a consensus target price of $16.20.

Quanterix Trading Up 4.2 %

QTRX stock traded up $0.24 during midday trading on Wednesday, hitting $6.01. The stock had a trading volume of 477,565 shares, compared to its average volume of 552,314. The business has a fifty day moving average price of $6.35 and a two-hundred day moving average price of $9.35. Quanterix has a 1-year low of $4.67 and a 1-year high of $19.18. The firm has a market cap of $233.12 million, a P/E ratio of -5.67 and a beta of 1.12.

Quanterix (NASDAQ:QTRX - Get Free Report) last posted its quarterly earnings results on Monday, March 17th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.03). The business had revenue of $35.16 million for 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%. On average, equities analysts anticipate that Quanterix will post -0.98 EPS for the current year.

Institutional Trading of Quanterix

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in Quanterix by 23.9% in the 4th quarter. JPMorgan Chase & Co. now owns 270,054 shares of the company's stock valued at $2,871,000 after buying an additional 52,097 shares during the last quarter. Graypoint LLC purchased a new stake in shares of Quanterix in the fourth quarter valued at about $691,000. Geode Capital Management LLC lifted its position in shares of Quanterix by 2.2% during the third quarter. Geode Capital Management LLC now owns 858,667 shares of the company's stock valued at $11,131,000 after purchasing an additional 18,231 shares in the last quarter. Barclays PLC boosted its holdings in Quanterix by 42.3% during the third quarter. Barclays PLC now owns 146,248 shares of the company's stock worth $1,896,000 after purchasing an additional 43,447 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Quanterix by 22.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 342,264 shares of the company's stock worth $3,638,000 after purchasing an additional 62,757 shares in the last quarter. 86.48% of the stock is owned by hedge funds and other 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.