Canaccord Genuity Group Lowers Quanterix (NASDAQ:QTRX) Price Target to $15.00

Quanterix (NASDAQ:QTRX) had its price target lowered by equities research analysts at Canaccord Genuity Group from $20.00 to $15.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 108.33% from the company’s current price.

Quanterix Stock Performance

Shares of QTRX opened at $7.20 on Tuesday. The stock has a 50 day moving average price of $8.32 and a two-hundred day moving average price of $10.90. The firm has a market capitalization of $277.37 million, a P/E ratio of -6.79 and a beta of 1.34. Quanterix has a 52 week low of $6.30 and a 52 week high of $27.37.

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 the consensus estimate of ($0.27) by ($0.03). The business had revenue of $35.16 million during the quarter, compared to the consensus estimate of $34.93 million. Quanterix had a negative net margin of 30.12% and a negative return on equity of 11.74%. On average, equities analysts forecast that Quanterix will post -0.98 earnings per share for the current year.

Institutional Investors Weigh In On Quanterix

Several institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Quanterix by 2.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 520,869 shares of the company’s stock worth $5,537,000 after acquiring an additional 10,111 shares in the last quarter. Williams Jones Wealth Management LLC. raised its position in shares of Quanterix by 39.9% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 471,514 shares of the company’s stock worth $5,012,000 after buying an additional 134,470 shares in the last quarter. Two Sigma Advisers LP raised its position in Quanterix by 35.9% during the fourth quarter. Two Sigma Advisers LP now owns 36,748 shares of the company’s stock valued at $391,000 after purchasing an additional 9,700 shares in the last quarter. Two Sigma Investments LP purchased a new stake in Quanterix during the fourth quarter valued at about $606,000. Finally, ProShare Advisors LLC purchased a new stake in Quanterix during the fourth quarter valued at about $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.