Quanterix (NASDAQ:QTRX) Price Target Lowered to $25.00 at Canaccord Genuity Group

Quanterix (NASDAQ:QTRX) had its price target decreased by equities researchers at Canaccord Genuity Group from $32.00 to $25.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 54.80% from the stock’s current price.

Separately, Scotiabank boosted their target price on shares of Quanterix from $30.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 4th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $30.60.

Quanterix Trading Up 3.8 %

QTRX stock traded up $0.59 during midday trading on Monday, reaching $16.15. The company had a trading volume of 66,389 shares, compared to its average volume of 342,755. The company has a 50 day moving average of $22.74 and a two-hundred day moving average of $23.31. The company has a market capitalization of $617.69 million, a P/E ratio of -18.92 and a beta of 1.30. Quanterix has a 1 year low of $12.17 and a 1 year high of $29.70.

Quanterix (NASDAQ:QTRX) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.05). The firm had revenue of $31.55 million for the quarter, compared to analysts’ expectations of $27.92 million. Quanterix had a negative return on equity of 9.15% and a negative net margin of 26.42%. On average, sell-side analysts anticipate that Quanterix will post -1.04 earnings per share for the current year.

Insider Transactions at Quanterix

In other news, Director Laurie J. Olson sold 1,500 shares of Quanterix stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $24.35, for a total value of $36,525.00. Following the transaction, the director now directly owns 15,238 shares in the company, valued at $371,045.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Quanterix

Institutional investors have recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. acquired a new stake in Quanterix during the third quarter valued at approximately $67,000. AJOVista LLC acquired a new position in Quanterix during the fourth quarter worth $81,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Quanterix in the 3rd quarter valued at $125,000. Picton Mahoney Asset Management bought a new stake in shares of Quanterix in the 4th quarter worth about $139,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Quanterix by 56.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,683 shares of the company’s stock valued at $209,000 after acquiring an additional 2,775 shares during the last quarter. 86.48% of the stock is owned by institutional investors and hedge funds.

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.