Scotiabank Cuts Quanterix (NASDAQ:QTRX) Price Target to $18.00

Quanterix (NASDAQ:QTRX - Free Report) had its price target trimmed by Scotiabank from $28.00 to $18.00 in a report issued on Tuesday morning, MarketBeat.com reports. The brokerage currently has a sector outperform rating on the stock.

Separately, Canaccord Genuity Group dropped their price target on shares of Quanterix from $20.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th.

Quanterix Price Performance

Shares of NASDAQ QTRX traded down $0.21 during mid-day trading on Tuesday, reaching $6.56. 515,291 shares of the company traded hands, compared to its average volume of 514,785. Quanterix has a fifty-two week low of $6.30 and a fifty-two week high of $23.86. The firm has a market cap of $254.37 million, a PE ratio of -6.19 and a beta of 1.33. The stock has a fifty day simple moving average of $7.99 and a 200-day simple moving average of $10.65.

Quanterix (NASDAQ:QTRX - Get Free Report) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.30) earnings per share (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 analyst estimates of $34.93 million. As a group, analysts predict that Quanterix will post -0.98 EPS for the current fiscal year.

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Institutional Investors Weigh In On Quanterix

Several large investors have recently modified their holdings of the stock. Graypoint LLC acquired a new stake in shares of Quanterix during the fourth quarter worth $691,000. Algert Global LLC raised its holdings in Quanterix by 75.9% during the 3rd quarter. Algert Global LLC now owns 137,833 shares of the company's stock worth $1,786,000 after buying an additional 59,496 shares during the period. Geode Capital Management LLC lifted its stake in Quanterix by 2.2% during the third quarter. Geode Capital Management LLC now owns 858,667 shares of the company's stock valued at $11,131,000 after buying an additional 18,231 shares in the last quarter. Barclays PLC boosted its holdings in shares of Quanterix by 42.3% in the third 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 period. Finally, JPMorgan Chase & Co. increased its position in shares of Quanterix by 28.1% in the third quarter. JPMorgan Chase & Co. now owns 217,957 shares of the company's stock worth $2,825,000 after acquiring an additional 47,873 shares in the last quarter. 86.48% of the stock is owned by institutional investors.

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.