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

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

A number of other brokerages have also commented on QTRX. Canaccord Genuity Group decreased their target price on Quanterix from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Scotiabank restated an “outperform” rating on shares of Quanterix in a report on Tuesday, March 25th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.20.

Quanterix Stock Performance

Shares of QTRX stock opened at $5.76 on Wednesday. Quanterix has a fifty-two week low of $4.67 and a fifty-two week high of $19.18. The stock has a 50 day simple moving average of $6.44 and a two-hundred day simple moving average of $9.44. The company has a market cap of $223.42 million, a P/E ratio of -5.43 and a beta of 1.35.

Quanterix (NASDAQ:QTRX) last released its 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 company had revenue of $35.16 million for the quarter, compared to analyst estimates of $34.93 million. Quanterix had a negative net margin of 30.12% and a negative return on equity of 11.74%. On average, research analysts predict that Quanterix will post -0.98 earnings per share for the current year.

Institutional Investors Weigh In On Quanterix

Institutional investors have recently made changes to their positions in the stock. Resona Asset Management Co. Ltd. bought a new position in Quanterix in the 4th quarter worth about $55,000. Tower Research Capital LLC TRC increased its position in shares of Quanterix by 219.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,702 shares of the company’s stock worth $61,000 after purchasing an additional 3,915 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Quanterix in the fourth quarter valued at approximately $66,000. Peapack Gladstone Financial Corp purchased a new position in Quanterix in the 3rd quarter worth approximately $131,000. Finally, ProShare Advisors LLC bought a new position in shares of Quanterix in the 4th quarter worth $108,000. Hedge funds and other institutional investors 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.