Quanterix (NASDAQ:QTRX) PT Lowered to $28.00

Quanterix (NASDAQ:QTRX) had its target price lowered by equities research analysts at Scotiabank from $32.00 to $28.00 in a report issued on Monday, Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s target price indicates a potential upside of 149.11% from the stock’s current price.

Several other research analysts have also issued reports on QTRX. The Goldman Sachs Group cut their target price on shares of Quanterix from $35.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. TD Cowen dropped their price target on Quanterix from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Friday. Finally, Canaccord Genuity Group reduced their price objective on Quanterix from $32.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.80.

Quanterix Price Performance

Shares of NASDAQ:QTRX traded up $0.32 on Monday, hitting $11.24. The company’s stock had a trading volume of 117,677 shares, compared to its average volume of 397,556. The company has a market capitalization of $430.15 million, a PE ratio of -11.71 and a beta of 1.39. The company has a 50-day simple moving average of $14.20 and a 200 day simple moving average of $18.82. Quanterix has a 1 year low of $10.50 and a 1 year high of $29.70.

Quanterix (NASDAQ:QTRX) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). Quanterix had a negative return on equity of 10.39% and a negative net margin of 28.82%. The company had revenue of $34.38 million during the quarter, compared to the consensus estimate of $34.19 million. During the same quarter last year, the company posted ($0.16) earnings per share. On average, equities research analysts expect that Quanterix will post -0.87 earnings per share for the current fiscal year.

Institutional Trading of Quanterix

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Quanterix by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,069,423 shares of the company’s stock worth $48,756,000 after buying an additional 14,390 shares during the period. Lord Abbett & CO. LLC increased its stake in Quanterix by 22.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,757,153 shares of the company’s stock worth $41,398,000 after purchasing an additional 326,876 shares during the period. Dimensional Fund Advisors LP lifted its position in Quanterix by 15.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 974,111 shares of the company’s stock valued at $26,635,000 after purchasing an additional 131,195 shares during the last quarter. Easterly Investment Partners LLC lifted its position in Quanterix by 779.9% in the second quarter. Easterly Investment Partners LLC now owns 692,746 shares of the company’s stock valued at $9,151,000 after purchasing an additional 614,012 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its stake in shares of Quanterix by 1.6% during the second quarter. Baillie Gifford & Co. now owns 633,460 shares of the company’s stock valued at $8,368,000 after purchasing an additional 10,105 shares during the period. 86.48% of the stock is owned by 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.