Quanterix (NASDAQ:QTRX) Given New $12.00 Price Target at Canaccord Genuity Group

Quanterix (NASDAQ:QTRX) had its price target cut by Canaccord Genuity Group from $15.00 to $12.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently issued reports on the stock. Leerink Partners reiterated a “market perform” rating and set a $8.00 price objective (down from $12.00) on shares of Quanterix in a research note on Wednesday, April 30th. Leerink Partnrs downgraded shares of Quanterix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Finally, Scotiabank restated an “outperform” rating on shares of Quanterix in a research note on Tuesday, March 25th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $15.60.

Quanterix Stock Down 19.0%

QTRX opened at $4.64 on Tuesday. Quanterix has a 52-week low of $4.20 and a 52-week high of $19.18. The company has a 50 day moving average of $6.05 and a two-hundred day moving average of $8.98. The company has a market cap of $179.98 million, a P/E ratio of -4.38 and a beta of 1.12.

Quanterix (NASDAQ:QTRX) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.16. Quanterix had a negative net margin of 30.12% and a negative return on equity of 11.74%. The company had revenue of $30.33 million during the quarter, compared to the consensus estimate of $28.27 million. Research analysts anticipate that Quanterix will post -0.98 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. American Century Companies Inc. boosted its stake in shares of Quanterix by 9.9% in the first quarter. American Century Companies Inc. now owns 79,130 shares of the company’s stock valued at $515,000 after purchasing an additional 7,138 shares during the period. Aberdeen Group plc boosted its stake in shares of Quanterix by 29.9% in the first quarter. Aberdeen Group plc now owns 268,717 shares of the company’s stock valued at $1,749,000 after purchasing an additional 61,794 shares during the period. Russell Investments Group Ltd. raised its holdings in Quanterix by 51.1% in the first quarter. Russell Investments Group Ltd. now owns 606,787 shares of the company’s stock valued at $3,950,000 after acquiring an additional 205,311 shares in the last quarter. Nuveen LLC bought a new position in Quanterix during the 1st quarter valued at $2,704,000. Finally, Invesco Ltd. boosted its stake in Quanterix by 61.0% during the 1st quarter. Invesco Ltd. now owns 54,194 shares of the company’s stock valued at $353,000 after acquiring an additional 20,540 shares during the last quarter. 86.48% of the stock is currently 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.