Leerink Partners Lowers 908 Devices (NASDAQ:MASS) Price Target to $12.00

908 Devices (NASDAQ:MASS - Get Free Report) had its price target cut by stock analysts at Leerink Partners from $15.00 to $12.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Leerink Partners' target price would suggest a potential upside of 249.85% from the stock's current price.

908 Devices Trading Down 2.8 %

Shares of 908 Devices stock traded down $0.10 on Thursday, reaching $3.43. 121,088 shares of the stock were exchanged, compared to its average volume of 197,614. 908 Devices has a 1-year low of $3.24 and a 1-year high of $12.51. The business has a fifty day moving average price of $3.76 and a two-hundred day moving average price of $5.08. The firm has a market capitalization of $118.28 million, a PE ratio of -3.17 and a beta of 0.97.

908 Devices (NASDAQ:MASS - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.32) EPS for the quarter, topping analysts' consensus estimates of ($0.34) by $0.02. The firm had revenue of $14.05 million for the quarter, compared to the consensus estimate of $13.69 million. 908 Devices had a negative net margin of 72.10% and a negative return on equity of 22.47%. Research analysts expect that 908 Devices will post -1.21 EPS for the current year.

Institutional Trading of 908 Devices

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its holdings in shares of 908 Devices by 6.4% in the second quarter. Bank of New York Mellon Corp now owns 69,550 shares of the company's stock valued at $358,000 after purchasing an additional 4,212 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of 908 Devices by 18.6% in the second quarter. American Century Companies Inc. now owns 33,718 shares of the company's stock valued at $174,000 after purchasing an additional 5,295 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of 908 Devices by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,751,102 shares of the company's stock valued at $13,221,000 after purchasing an additional 6,772 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of 908 Devices in the second quarter valued at about $48,000. Finally, SG Americas Securities LLC purchased a new stake in shares of 908 Devices in the third quarter valued at about $36,000. Hedge funds and other institutional investors own 88.06% of the company's stock.

About 908 Devices

908 Devices Inc, a commercial-stage technology company, provides various purpose-built handheld and desktop mass spectrometry devices to interrogate unknown and invisible materials in life sciences research, bioprocessing, pharma/biopharma, forensics, and adjacent markets. The company's products include MX908, a handheld, battery-powered, and Mass Spec device that is designed for rapid analysis of solid, liquid, vapor, and aerosol materials of unknown identity; Rebel, a small desktop analyzer that provides real-time information on the extracellular environment in bioprocesses; and Maverick, an optical in-line analyzer that offers real-time monitoring and control of multiple bioprocess parameters, including glucose, lactate, and total biomass in mammalian cell cultures, as well as provides process fingerprint data to support large-scale efforts in predictive bioprocess modeling.