Quanterix (NASDAQ:QTRX) Downgraded to "Hold" Rating by Leerink Partnrs

Leerink Partnrs cut shares of Quanterix (NASDAQ:QTRX - Free Report) from a strong-buy rating to a hold rating in a report published on Wednesday morning,Zacks.com reports.

Several other analysts also recently weighed in on the stock. Scotiabank reissued an "outperform" rating on shares of Quanterix in a research report on Tuesday, March 25th. Canaccord Genuity Group dropped their price objective on shares of Quanterix from $20.00 to $15.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Finally, Leerink Partners restated a "market perform" rating and issued a $8.00 target price (down previously from $12.00) on shares of Quanterix in a research note on Wednesday, April 30th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $16.20.

Quanterix Stock Performance

QTRX traded down $0.20 during trading on Wednesday, hitting $5.61. The stock had a trading volume of 116,367 shares, compared to its average volume of 550,799. The stock has a 50 day simple moving average of $6.31 and a two-hundred day simple moving average of $9.25. The company has a market capitalization of $217.76 million, a PE ratio of -5.33 and a beta of 1.12. Quanterix has a twelve month low of $4.67 and a twelve month high of $19.18.

Quanterix (NASDAQ:QTRX - Get Free Report) last announced its earnings results 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 for the quarter, compared to analysts' expectations 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 research analysts anticipate that Quanterix will post -0.98 EPS for the current year.

Institutional Trading of Quanterix

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