Quanterix (NASDAQ:QTRX) Cut to Hold at Leerink Partnrs

Leerink Partnrs lowered shares of Quanterix (NASDAQ:QTRX) from a strong-buy rating to a hold rating in a research report released on Wednesday,Zacks.com reports.

A number of other equities analysts also recently issued reports on the company. Leerink Partners reaffirmed a “market perform” rating and set a $8.00 price target (down from $12.00) on shares of Quanterix in a research report on Wednesday. Canaccord Genuity Group decreased their price target on Quanterix from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Finally, Scotiabank restated an “outperform” rating on shares of Quanterix in a research note 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, Quanterix presently has a consensus rating of “Moderate Buy” and an average price target of $16.20.

Quanterix Trading Up 4.2 %

QTRX opened at $6.01 on Wednesday. The firm has a market cap of $233.12 million, a price-to-earnings ratio of -5.67 and a beta of 1.35. Quanterix has a 12 month low of $4.67 and a 12 month high of $19.18. The stock has a fifty day moving average price of $6.35 and a 200-day moving average price of $9.35.

Quanterix (NASDAQ:QTRX) last released its quarterly earnings results on Monday, March 17th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.03). Quanterix had a negative net margin of 30.12% and a negative return on equity of 11.74%. The firm had revenue of $35.16 million for the quarter, compared to analysts’ expectations of $34.93 million. On average, equities research analysts forecast that Quanterix will post -0.98 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Barclays PLC raised its position in Quanterix by 42.3% during the 3rd quarter. Barclays PLC now owns 146,248 shares of the company’s stock worth $1,896,000 after buying an additional 43,447 shares during the last quarter. Peapack Gladstone Financial Corp acquired a new stake in shares of Quanterix in the third quarter worth $131,000. JPMorgan Chase & Co. raised its holdings in shares of Quanterix by 28.1% during the third quarter. JPMorgan Chase & Co. now owns 217,957 shares of the company’s stock worth $2,825,000 after purchasing an additional 47,873 shares during the last quarter. Graypoint LLC acquired a new position in Quanterix during the fourth quarter valued at $691,000. Finally, Tallon Kerry Patrick purchased a new stake in Quanterix in the fourth quarter valued at $169,000. 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.